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Sen. Rand Paul Introduces Amendment Regarding the Export-Import Bank – 3/20/12

April 20, 2012 by  

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Vigilant

    This bears some investigation. Prior to Obama, the Ex-Im was not a drain on taxpayer resources. In fact, it was touted as one of the very hew Federally-backed enterprises that had actually put more back into the US Treasury than it ever took out. At that time, it had repaid the taxpayers’ money so many times over that it didn’t need to rely on any other than its own funds.

    Rand Paul is mixing his message to some extent. I don’t believe the Solyndra or Kennedy loans were ever financed through Ex-Im, so that is another question (though valid) altogether.

    The concept of Ex-Im was to create jobs for Americans by attaching conditions to all foreign loans, i.e., that the amounts of the loans were to be made with the proviso that the foreign debtor would use the money to purchase an equivalent amount of American made goods and services. Thus, it was to be a job creator, not a job exporter, for Americans.

    It would seem to be a win-win situation: the loans would be paid back with interest, plus we would have the advantage of increased employment as a result.

    That being said, it’s possible that Obama is now using the Ex-Im to re-pay big political contributors and drop money down the sinkhole of green energy. If he has indeed done that, then Ex-Im will start to lose money and the taxpayers will indeed be on the hook for it.

    If that is so, Senator Paul would be entirely correct in limiting the subsidies to Ex-Im.

    • Tom W.

      You have to at least suspect that he’s correct Vig. This is what Thomas Jefferson meant by tying men down with the Contsitution, because bad men can corrupt anything!!! You’ve got to admire Sen. Paul though, I’ve been impressed every time I’ve heard him speak!

      • Vigilant

        Agreed, Tom.

    • JeffH

      What I find interesting is how some(mostly liberals) believe that the EX-IM Bank operates independent from government and doesn’t kowtow to political pressures.

      Imagine this, it was the ultra-progressive FDR, through executive order(s), that created not 1, but 2 Export-Import Banksin 1934 . #2 was eventually dissolved in 1936 with its obligations being transferred to the first bank.

  • http://personallibertydigest sharon galbraith

    I’m also impressed and wonder how our government has become so skewed.

    • Rage Fury

      Because “We the People” have been passive thus letting the Gov do as it wishes. Pretty much most of us are in a “If it does not immediately affect me, then who cares” mindset…

      Though it does seem more and more are waking up and getting active. Let us hope its not to late.

  • FreedomFighter

    Impeach Obama and lets rid ourselves of this communist.

    Laus Deo
    Semper Fi

  • s c

    Is there any good reason to view the Fed, the Export-Import Bank, The IMF or any other ‘government-approved’ agency as anything other than a money-laundering scam or an office that creates money out of thin air?
    At the very least, such groups are wealth-destroyers. Unfortunately, we rarely get any politicians who have the spine to see them for what they are.

  • John Folts

    This is good. Please do more and more in this direction. Please do these two things. Vote for Ron Paul for our President and back this legislation. Restore our America.

  • Dave Economos

    Mark Twain said it all…”common sense is very uncommon”.


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