Why are our tax dollars subsidizing China?

Question

http://www.ronpaul2008.com/articles/36/your-taxes-subsidize-china/

Export-Import Bank of the United States has come under criticism for allegedly favoring special interests ahead of that of the U.S. taxpayer. These interests include that of heavily subsidized corporations such as Boeing or Enron as well as those of well-connected foreign governments and nationals (such as a 1996 $120 million low-interest loan to the China National Nuclear Power Corporation (CNNP).
http://www.nationalreview.com/comment/comment-carney053102.asp

Answer 1

Dr. Paul tells the truth, and he'll tell you stuff that other politicians won't. He's going to be on Glen Beck tonight at
7pm. (CST). I don't know where you live, but check your local listings.
Um...China as well as many other foreign countries own parts of the U.S.. Bush has basically sold our country off to other countries in order to fund the war and other "pet projects" of his. And with NAFTA as well as other free trade agreements, this is why we subsidize China.

Answer 2

The information in the article is very wrong and misleading. First of all, the bank provides LOANS that have to be repayed, not subsidies. The bank itself is profitabe and self-sustaining, and, therefore, does not relay on continious support from taxpayers. Secondly, the money goes to US companies that export their products to foreign countries. With the current trade deficit, exports are extremely important for US economy. Also, other countries (France and Germany for example), have much larger government-sponsored institutions created for the same purpose of increasing exports. Such articles simply show what kind of lowlifes some of the presidential candidates really are. Treating public as a bunch of ignorant cows...

Answer 3

He has a point. It would be nice if someone in the government cared about America and its people. We all want to see the peoples around the world improve their lives but lately it seesm that a lot of average and poor Americans are suffering while the government lets things go on to keep certain trade relationships happy. The wealthies Americans are doing just fine as all this is happening by the way. I see it as the next step in capitalising the globe as a whole. The wealthiest people worldwide rise ever higher while the masses suffer as the tools of the new world order.

Answer 4

Although I support most of the things Ron Paul says, this is one I disagree with. Not that I wouldn't like to stop our subsidies to them. But the truth is THEY are subsidizing us to an overwhelming extent. We have borrowed millions of dollars from them in the last 7 years to support the policies of the current administration and we now find ourselves in the position of not being able to go against the country that basically holds our pursestrings. Our subsidies to them are barely a drop in the bucket of what we owe them.

Answer 5

because the governments are run by the wealthy and corporations and are not being runned by rule of law or justice.these same individuals do not care about right, fair or whatever but about power.

RRRR

Answer 6

politics.