US Report: ..Ron Paul wanted answers on Brazil drilling loan, tooSubmitted by SteveMT on Tue, 03/22/2011 - 17:58
Vitter wants answers on Brazil drilling loan; Paul wanted answers too
Tuesday, March 22, 2011 at 9:50AM
Sen. David Vitter (R-La.) wants answers from the US taxpayer supported Export-Import bank about a $2 billion loan to Brazil for offshore drilling. Vitter’s home state is suffering under a moratorium imposed by President Barack Obama. Vitter said Louisianians “are frustrated” and he wants to know “why permitting domestically is nearly stalled…”
Rep. Ron Paul (R-Texas) had questions about ExIM—nine years ago when he asked Congress to reject the reauthorization of ExIm for “economic, constitutional and moral reasons.”
In 2002, Paul who is known as a fiscal hawk, delivered a passionate speech on the House floor calling ExIm “corporate welfare.” Paul pointed out ExIm was an “agency of the government that allocates credit to special interests and to the benefit of foreign entities.” Paul rightly pointed out the establishment of ExIm was unconstitutional.