Five Key Facts Ex-Im Bank Critics Don’t Seem To Know (From Forbes)

There’s nothing wrong with American exceptionalism, as long as it doesn’t become an excuse for ignorance.  In the case of the ideological crusade to destroy the Export-Import Bank, though, it has.  Virtually everything critics say about the bank on close inspection turns out to be wrong.  Ex-Im’s opponents seem oblivious to the most basic information, such as the fact that America’s trade deficit cut U.S. growth by one percentage point last year; that Ex-Im doesn’t hand out subsidies but just about everybody else does; that private lenders, like small businesses, rely on Ex-Im; that there is very little risk associated with Ex-Im activities; and that Red States are heavy users of Ex-Im programs.  I have written a commentary for Forbes here.