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.
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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.”
