President Obama went to a Boeing factory last week and promised to help the $56 billion corporation by giving it more taxpayer subsidies.

Obama called on Congress to reauthorize and expand the government agency that most embodies corporate welfare -- the Export-Import Bank of the United States. The Boeing factory in Washington state was a fitting location, given that most of Ex-Im's finance dollars -- 66 percent of its guarantees last year -- subsidize Boeing sales.

Because foreign governments give "unfair subsidies" to their manufacturers, Obama argued, Uncle Sam needs to raise its subsidies in order to create a "level playing field."

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