A government agency that finances U.S. exports directed 90 of its loan guarantees last year to subsidize one company: Boeing.
Before President Obama unfurls his export-promotion plan at the Export-Import Bank's annual conference this Thursday, he should review the agency's recent annual report, which documents an unparalleled case of corporate welfare -- a government program dedicated almost entirely to serving one well-connected company.
Of the $9.3 billion in loan guarantees Ex-Im issued in fiscal 2009, $8.4 billion subsidized Boeing sales....
Candidate Obama assailed government policy that enriched the wealthiest in the hope that "somehow prosperity will trickle down." But this is this mission of Ex-Im -- subsidize Boeing's profits in an effort to create jobs.