Several years ago Ron Paul warned us of this matter (link via my good friend J Bradley Jansen and you can see his remarks here: Center for Financial Privacy and Human Rights » Rep. Ron Paul’s Statement on H.R. 1370 Reauthorizing the Export Import Bank (1997). In this report, Ron Paul says, “H.R. 1370, reauthorizing the Export-Import Bank, should be rejected for several reasons. The claim to constitutionality is dubious. The Bank rewards special interest groups with political favors. Reallocating money from the job-producing, productive sectors of the economy to the less efficient sectors distorts credit allocation. Reauthorization of the Bank is both bad economics and bad politics.”
Speaker of the House
How the news broke
Conservative voters roared in a standing ovation Friday at the Values Voter Summit in Washington after Sen. Marco Rubio (R-Fla.) announced Speaker John Boehner’s (R-Ohio) plans to retire.
Rubio, who is running for president, shared the news that broke just before his speech, working it into prepared remarks where he questioned why a Republican Congress isn’t “able to stop our country from sliding in the wrong direction.”