Thread: Donald Trump: Establishment ‘Against Me’ but ‘Coming on Line’

Originally Posted by Judy

Obviously, Ted Cruz cares even less. So where does that put you?

Boeing, GE and many others didn't want to leave, they waited through the summer to see if Congress would re-authorize the Ex Im Bank but it didn't. It's still working on it, but not in time to save Boeing, GE and several others who have already announced.

Like I've said before, your letting your support for Trump cloud your judgement. Cruz did the right thing by fighting the renewal of the Ex-Im Bank. I find it a little dismaying that you would take the side of greedy corporations who insist on having their operations subsidized in this manner.

Excerpt:

It is not surprising that Boeing, GE, and Caterpillar, among others, would be doing everything in their considerable political powers to win reauthorization of the Ex–Im charter. Subsidized financing is an attractive perk to offer their customers. But those subsidies carry considerable costs—to taxpayers and the American businesses that are left to compete against foreign firms subsidized by the U.S. government. Given the vast resources of Ex–Im’s beneficiaries and the abundant supply of private export financing, there is no need to lament the expiration of the bank charter. Given the unbridled expansion of government, eliminating Washington’s interference in this corner of the economy is something to applaud.

http://www.heritage.org/research/rep...-or-employment

Yep, Ted Cruz definitely should be applauded for his move against the Ex-Im Bank. Anyone that feels otherwise is on the wrong side of the issue.

I've supported the Ex Im Bank my entire career because of its importance to US manufacturers. Only morons who don't care about our producers and the economic foundation they provide to our country would oppose the Ex-Im Bank.

http://www.reuters.com/article/us-us...0OK0BM20150604


Politics | Thu Jun 4, 2015 1:07am EDT
Related: Election 2016, Politics
In Ex-Im Bank fight, Texas has most to lose, and fiercest bank opponents
WASHINGTON | By David Lawder

House Financial Services Committee Chairman Representative Jeb Hensarling (R-TX) speaks during the testimony of Consumer Financial Protection Bureau Director Richard Cordray (not pictured) in Washington September 12, 2013. REUTERS/Gary Cameron
House Financial Services Committee Chairman Representative Jeb Hensarling (R-TX) speaks during the testimony of Consumer Financial Protection Bureau Director Richard Cordray (not pictured) in Washington September 12, 2013.
Reuters/Gary Cameron

In a fight in the U.S. Congress over the future of the Export-Import Bank, no state looms larger than Texas, on both sides.

The state has the most companies backed by the government's export credit agency, and - paradoxically - is home to the bank's fiercest congressional critics who want to let the institution die when its charter expires at the end of June.

Representative Jeb Hensarling leads a contingent of fellow Texas Republicans pressing hard for the shutdown of the bank, despite its support for many large and small Texas businesses.

Arguing that "Ex-Im" embodies "crony capitalism" doled out by Washington bureaucrats and that it puts taxpayer funds at risk to guarantee foreign loans, many Republicans want to end the tradition of renewing the 80-year-old bank's charter.

If Hensarling, the influential House Financial Services Committee chairman, stands by his stated intention not to advance a bill to reauthorize the bank, it will soon have to stop lending and writing new trade insurance. The bank's only hope then would be legislation in the Senate.

The bank's closure would be cheered by Republican fiscal hawks, but be seen by many as a fresh blow to U.S. international economic clout months after Washington failed to stop China from launching its own Asian development bank.

If the bank dies, China and 58 other industrial countries with export credit agencies would gain a bigger share of major international sales and projects, Ex-Im backers say.

Texas exporters, with a high concentration in oil and gas equipment and engineering, say thousands of jobs are at risk. The bank lists 1,233 companies in Texas it has helped to export $22 billion worth of U.S. goods and services, a dollar amount higher than anywhere except Washington state, home of Boeing Co.

"We're all conservatives in our company, and our elected representatives are working against us," said Jim Adams, managing director of privately held Control Flow Inc, a Houston-based maker and exporter of oil wellhead equipment.

Control Flow has exported $75 million worth of equipment, including valves and blow-out preventers, backed by low-interest Ex-Im loans and insurance in the past five years.

Without that support, Control Flow would have to slash prices and accept lower profits to keep export business or cut its 160-strong workforce, Adams said.

Texas lawmakers' opposition to the bank partly reflects the rising power of the Tea Party and conservative groups in the state such as the Club for Growth, which promotes a fiscal conservative agenda and funnels money to such candidates.

Hensarling acknowledges there will be collateral damage as some firms lose support, but says they would be better served by a reformed tax code and reduced regulations.

"I hope to help these small businesses, maybe just not in the way they wish to be helped,” he told Reuters during a break in an Ex-Im hearing on Wednesday.

"There are better ways to do that without transferring credit risk to the taxpayer balance sheet, which when last I looked, was an unsustainable balance sheet.”

In the nine months since Ex-Im's charter was last extended, Texas House Republicans opposed to renewing it have drowned out the handful who support keeping the bank open with reforms, such as House Rules Committee chairman Pete Sessions, who is allied with House Republican leadership.

By contrast, House Republicans from Missouri, where Boeing has a major presence, have voiced strong support for the bank.

Like other Ex-Im opponents, many of the Texas Republicans say the bank provides "corporate welfare" to Boeing and other huge corporations, interferes in private finance and puts U.S. taxpayers on the hook for foreign loans.

"Ex-Im Bank has exceeded its period of usefulness. Period," said Republican Michael Burgess, a Dallas-Fort Worth area congressman.

TEA PARTY EFFECT

For Texas Republicans, supporting the Ex-Im Bank could invite a primary challenge ahead of the November 2016 congressional elections, said Mark Jones, a political science professor at Rice University in Houston.

Ex-Im "has successfully been framed as being associated with crony capitalism, and that's a dangerous place to be with Republican primary voters in Texas," Jones added.

Support for economic "liberty" and small government runs deep in the vast, largely Republican state. Republican primary election voters are typically the most committed conservatives, exerting an outsize influence on the state's politics.

"This is a red meat issue for the Tea Party," said Tony Bennett, president of the Texas Association of Manufacturers.

Trying to explain to Texas conservative voters the role that Ex-Im plays in promoting exports is an "impossibility," he said. "It's ironic that we're the largest user of Ex-Im and the most vocal opponents are from Texas."

Club for Growth ran ads in April in the Waco, Texas district of Representative Bill Flores, urging him to abandon his prior support for the bank. When he came out against Ex-Im last month, the group ran ads praising him.

Air Tractor Inc, a maker of crop-dusting and fire-fighting aircraft, would not be able to find replacement financing for the small Ex-Im bank loans of $750,000 to $1 million that foreign customers use to purchase its planes, said Tyler Schroeder, a financial analyst with the firm.

These customers, largely in Brazil, would turn to a model made by Brazil's Embraer SA that has less spraying capacity, he said. Air Tractor would likely have to cut 65 to 70 of its 270 workers.

"At what point does the betterment of your constituents outweigh the ideology of this?" Schroeder said.

http://www.reuters.com/article/us-us...0OK0BM20150604

___________________________

Texas you better wake the hell up!

Sep 16, 2015 @ 08:59 AM 3,183 views
Ex-Im Bank's Closure Is Sending Jobs Overseas, Hurting Small Firms

John Brinkley,Contributor

GE announced on Tuesday that it would move about 500 power turbine manufacturing jobs from South Carolina, New York and Maine to France, because the company can get export financing there. It can’t get it here, because Congress shut down the Export-Import Bank.

Boeing BA, the Ex-Im Bank’s largest beneficiary, has said it might move jobs overseas, too, if Congress doesn’t reauthorize the bank.

The bank lends money to businesses overseas to help them buy and import American-made products and services. It also underwrites domestic loans for American exporters. It’s been around for 81 years with nary a peep of controversy – until the Tea Party reared its head.

The bank’s congressional authorization expired on June 30. The Republican leadership in the House didn’t schedule a reauthorization vote.

The bank’s conservative Republican detractors in Congress, led by the likes of Sen. Ted Cruz of Texas, say it only benefits big companies like GE and Boeing. They call that “crony capitalism” and “corporate welfare.”

But there are countless small to medium-sized American companies that export and that say they would suffer if the Ex-Im Bank went away for good.

Wudel International of Gilbert, Ariz., makes Nanci’s Frozen Yogurt and exports it to 40 countries. Its CEO, John Wudel, said he had been approached recently by a company that owned 400 stores in China and wanted to sell Nanci’s Frozen Yogurt in them.

He said the company asked for credit, but Wudel International was too small to offer it. Ordinarily, he would have referred the company to the Ex-Im Bank, but it’s shut down. “So, that ended the deal,” he said.

http://www.forbes.com/sites/johnbrin.../#477b82441df8

The harm either evil or stupid people can do in Congress to our citizens and businesses is unbelievable.

Texas, you're running with the wrong crowd of late. You need to snuggle up to your manufacturers and take care of them. They're the ones who put food on your tables and new cars in your driveways, not the Tea Party, not Club for Growth, not Heritage Foundation, and certainly not Ted Cruz.

Facts About the Export-Import Bank


The Export-Import Bank (Ex-Im Bank) Provides Taxpayer Subsidies Primarily to Multinational Corporations

• More than 80 percent of the bank’s financing benefits major firms, including the Boeing Company (market capitalization exceeding $91 billion). In the past five years, the aviation giant has profited from 197 Ex-Im deals totaling $48 billion. In fiscal year 2013 alone, about 66 percent of Ex-Im loan guarantees benefited Boeing.
• According to Mercatus Center economist Veronique de Rugy, the Ex-Im Bank provides export financing for just 0.009 percent of America’s small businesses. The proportion of smaller businesses that do receive aid is artificially inflated by the bank’s expansive definition of “small,” which includes firms with as many as 1,500 workers and companies with revenues of up to $21.5 million annually.
• Ten companies benefited from 75 percent of the Ex-Im subsidies in FY 2013. Along with Boeing, these major beneficiaries included General Electric (valued at $267 billion), Bechtel Corporation (2013 revenues of $39.4 billion), and Caterpillar Inc. (with 2013 sales and revenues of $55 billion).
• The vast majority of exporters—98 percent—do not receive assistance from the Ex-Im Bank. There is no shortage of private financing available, particularly for multinational corporations that could finance their own exports.

Ex-Im Subsidies Threaten U.S. Jobs

• The bank funnels billions of taxpayer dollars each year to overseas businesses for the purchase of American products. These subsidies put U.S. firms at a competitive disadvantage. Ex-Im financing of coal mining in Colombia, copper excavation in Mexico, and airplanes for India has been identified as contributing to job losses among domestic companies.
• Ex-Im officials fail to properly consider the impacts of export subsidies on American workers and the businesses that employ them. The Ex-Im Inspector General concluded that the bank’s analyses ignored economic impacts contemplated by the Ex-Im charter and omitted relevant data.

Ex-Im Puts Taxpayers at Risk

• All Ex-Im financing is backed by the “full faith and credit” of the U.S. government. Taxpayer exposure will exceed $140 billion by the end of FY 2014.
• The Congressional Budget Office recently reported that Ex-Im will operate at a deficit of $2 billion in the next decade (in addition to the bank’s operating costs).
• The Inspector General has concluded that the bank lacks sufficient policies to prevent waste, fraud and abuse, and has inadequate risk management policies and recordkeeping.
• Ex-Im subsidies benefit China, Venezuela, Cuba, and Russia. State-owned foreign airlines have received $16 billion in subsidized financing since 2009.

http://www.heritage.org/research/reports/2014/07/facts-about-the-export-import-bank

Judy wrote:

I've supported the Ex Im Bank my entire career because of its importance to US manufacturers. Only morons who don't care about our producers and the economic foundation they provide to our country would oppose the Ex-Im Bank.

I don't appreciate being called a moron just because I don't agree with subsidizing a handful of greedy corporations with taxpayer dollars.

Originally Posted by MW

Judy wrote:



I don't appreciate being called a moron just because I don't agree with subsidizing a handful of greedy corporations with taxpayer dollars.

MW, I wasn't referring to you. You didn't even know why Cruz called McConnell a liar or anything about the Ex Im Bank until I explained it to you in our previous discussion several weeks ago. You don't know anything about why it's necessary, has been for 81 years, and why it's important for our manufacturers.

I'm not wasting any more time on this with you, because it's not in our forum's or organization's best interest to be calling our nation's best employers "greedy corporations" and dissing the American Workers they employ who are now losing those good jobs because of Ted Cruz and an inexplicable Congressional action you claim to support.

The. End.

Originally Posted by Judy

MW, I wasn't referring to you. You didn't even know why Cruz called McConnell a liar or anything about the Ex Im Bank until I explained it to you in our previous discussion several weeks ago. You don't know anything about why it's necessary, has been for 81 years, and why it's important for our manufacturers.

I'm not wasting any more time on this with you, because it's not in our forum's or organization's best interest to be calling our nation's best employers "greedy corporations" and dissing the American Workers they employ who are now losing those good jobs because of Ted Cruz and an inexplicable Congressional action you claim to support.

The. End.

Actually it was I that was explaining the many downfalls of the Ex-Im Bank to you several weeks ago. It's been explained to you why the Ex-Im Bank is a bad thing ..... it's up to you on whether you choose to listen or not. Oh, and please don't presume to know my knowledge level on any issue. Thank you.

Originally Posted by MW

Actually it was I that was explaining the many downfalls of the Ex-Im Bank to you several weeks ago. It's been explained to you why the Ex-Im Bank is a bad thing ..... it's up to you on whether you choose to listen or not. Oh, and please don't presume to know my knowledge level on any issue. Thank you.

Oh good grief. That was after I told you why Ted Cruz called McConnell a liar and changed his vote on the TPA and then you googled and said "oh well I agree with Cruz on that".

I don't have to "presume". I don't care what your knowledge level is. I don't care what your view is. You're entitled to any view you want to have and you're free to say anything you want to say. I'm not going to discuss these things with you any more, because there is no point to it. When someone doesn't care when our major manufacturers leave the country leaving thousands of American Workers in the wake because of moronic Congressional policies, they're not in my world to spend time or effort with. It's nothing personal, there's just other things I would rather do.

Originally Posted by Judy

Oh good grief. That was after I told you why Ted Cruz called McConnell a liar and changed his vote on the TPA and then you googled and said "oh well I agree with Cruz on that".

I don't have to "presume". I don't care what your knowledge level is. I don't care what your view is. You're entitled to any view you want to have and you're free to say anything you want to say. I'm not going to discuss these things with you any more, because there is no point to it. When someone doesn't care when our major manufacturers leave the country leaving thousands of American Workers in the wake because of moronic Congressional policies, they're not in my world to spend time or effort with. It's nothing personal, there's just other things I would rather do.

I'm sorry, but I cannot and will not support bullying from greedy corporations that have no loyalty to the country that made them what they are today. We have absolutely no business subsidizing them with tax dollars just so they can maximize profits at our expense. The Ex-Im Bank is not necessary and it nothing more than a drain on we taxpayers. For someone who purports to be concerned about the wise use of our tax dollars, your support of the Ex-Im Bank just doesn't make any logical sense.

Trust me, you will not hurt my feelings one bit by ignoring me, but please don't expect me to stand by and allow you to go unchallenged on issues I disagree with you on, when I think you're misleading with half-truths, or when I think you're just flat out wrong.