As Republicans, we have ridiculed Obama’s stimulus, bailouts, picking winners and losers, crony capitalism, Keynesian economics, European-style socialism, and Solyndra-style loans. Yet, there might only be 50 Republicans in the House who are willing to block a GOP effort to reauthorize a New-Deal policy that represents all of the aforementioned vices.
Roll Call is reporting that Eric Cantor is negotiating with Steny Hoyer in an effort to reauthorize the Export-Import Bank, which is set to expire May 31. What’s worse is that GOP leadership is seeking Democrat support for a “compromise” to circumvent the lonely 50-70 Republicans who might block the reauthorization:
The finely calibrated deal under discussion, as described by lobbyists and aides working on the issue, would grab enough Democratic votes to overcome a bloc of 50 to 70 Republicans who strongly oppose reauthorizing the bank’s lending authority. Such a result would signal at least an appearance of centrism.
“We are working to formulate a bipartisan bill to reauthorize the Ex-Im Bank that includes needed reforms and accountability measures,” Cantor spokeswoman Laena Fallon said.
One would expect all of the 160+ RSC members to stick together and oppose an institution that subsidizes specific exporters to sell products to foreign consumers as opposed to domestic ones. Yet, once again, we will be left with only a small group opposing this anti-free-market reauthorization.
However, there were some cracks forming among the conservative opposition. A GOP aide said a group of RSC members is preparing a letter supporting the bank’s reauthorization.
Folks, this is emblematic of what we’re up against. While most Republicans will speak out against Obama’s socialism, only a few dozen in the House will truly stand for the free market. We have at least 100 clearly defined conservative districts in the country, but only a handful of them are represented by those who will oppose things like the Ex-Im Bank. If Elijah the Prophet were around today, he would ask Republicans “How long halt ye between two opinions?” If you believe in free markets, then stick with them; if you believe in a centrally-planned economy, then join Obama. Ironically, even Obama called the bank a “fund for corporate welfare” during the 2008 campaign before he flip-flopped on the issue this year.
We have a lot of work to do in transforming the lower body into the “Tea Party House.” Find out if your representative plans to reauthorize Solyndra style loans.