We consider ourselves fairly well-versed in civics, but we were only vaguely aware of the Export-Import Bank. So let’s get this straight: American taxpayers subsidize loans for the worst major airline in the world, Air India, which is also bankrupt by the way, so that it can buy Boeing planes instead of Airbuses? Why not just subsidize Boeing directly (not that we would advocate that), or just place boxes of cash in front of a Pratt & Whitney jet engine to be sucked in and shredded?
Ex-Im Bank seems to offer a trifecta of government ineptitude, corporate welfare, and protectionism. (And this loan to Air India seems like bad industrial policy anyway.) It must distort the market in multiple conflicting ways simultaneously. Abolish it.
Rightwise Blog 