President Obama’s “New Economic Patriotism” leans heavily on exports, and thus on subsidies from the Export-Import Bank of the United States. Obama uses Ex-Im to support industries he likes (solar), companies he likes (Siemens, GE), and industries hurt by sequestration (satellites). Mostly, he uses Ex-Im to subsidize Boeing jets.

Republicans of late have begun bashing “corporate welfare.” Ex-Im uses taxpayer-backed financing to absorb the risk of banks and subsidize Boeing jets.

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