Sep 30, 2015

President Obama’s Ex-Im Flip-Flop is Hard to Explain

Post by Derek Yale

Arlington, VA — With President Obama having called the Export-Import Bank “little more than a fund for corporate welfare” in 2008, we find it a little “hard to explain” why the president is so confused about current opposition to the bank.

Freedom Partners on Wednesday released a new video featuring President Obama’s “weird reversal” on the bank when he was a candidate.

Click Here To See The Video.

SHOT: President Obama Says It’s “Hard To Explain” The Opposition To Ex-Im. “It is mind-boggling that this wasn’t reauthorized a year ago. And it is this weird reversal in which the principle opponents are the tea party caucus in the Republican Party. Somehow, Ex-Im Bank has become this cause célèbre of what some of the presidential candidates called ‘crony capitalism.’ . . . It’s just hard to explain.” (President Obama, “Remarks by the President to the Business Roundtable,” White House, 09/16/15)

CHASER: In 2008, Candidate Obama Called Ex-Im “Little More Than A Fund For Corporate Welfare.” “There are some [government programs] that have been duplicated by other programs that we just need to cut back, like waste at the Economic Development Agency and the Export-Import Bank that has become little more than a fund for corporate welfare.” (Zachary A. Goldfarb, “Candidate Obama, Echoing Tea Party, Called Ex-Im Bank ‘Little More Than A Fund For Corporate Welfare,’” Washington Post, 06/26/14)