Posted on May 30, 2012 by Henry Shivley
Barack Obama AKA Barry Soetoro AKA Barry the Rat has just signed legislation designed to give further subsidies to his corporate backers, Boeing and General Electric. The bill, HR 2072, which reauthorizes the US Export-Import Bank’s mandate through 2014 and increases its financing cap from $100 billion to $140 billion, is an outrage.
These monies are and will continue to be used to an even larger extent to facilitate the transfer of jobs, industry, and raw resources out of this country.
Just like General Electric used stimulus monies to build factories in China while paying zero taxes in the United States, this $140 billion will be used to help the foreign arms of these international corporations which have offices in the United States, to buy components and raw materials from the United States that will be manufactured in their facilities in other countries.
Boeing has been pushing for the last two years to move contracts for their facilities here in the United States to China. You see, they don’t think we can remember that the Chinese government ordered 20 Boeing 777s in April of this year. This was supposed to bring jobs to the United States. But what is really about to happen?
How about something like this? Obama is reelected President of the United States. Boeing, Inc., which was built via US government contracts, decides they are not going to put up with US workers’ demands for a living wage anymore. Obama, in the spirit of compromise, decides to implement a new jobs strategy. The production for the new planes is moved to Boeing’s facilities in China, which will enrich the Chinese which will cause them to purchase more of our goods and services and create service jobs in the United States. Good strategy.
Now here is the good part. The money to purchase the raw materials for the production of the planes are supplied by a loan through the US Export-Import Bank. Then the planes are produced in China, more US jobs are gone and it will have all been financed by the US taxpayer…that is what few are left.
Obama Signs Legislation for $140 Billion to go to those Corporations He Hates | _