Americans won't buy fake reforms designed to increase the Export-Import Bank's corporate welfare

Welcome to Washington — the city where Congress calls compromise an offer to increase taxpayers’ exposure to losses for a program that is little more than an inefficient means of delivering corporate welfare.

As the fight over the reauthorization of the Export-Import Bank rages on, Sen. Joe Manchin, D-W.Va., the chairman of the Senate Banking Committee’s Subcommittee on National Security, International Trade and Finance, just proposed not only to renew the bank’s charter for five years, but also to increase its credit-exposure limit to $160 billion, up from its current $140 billion level.