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This is a common theme in Republican administrations dating back to presidents Richard Nixon and Ronald Reagan. What you do is you break the government, make it very hard for the government to function, and then you loudly announce that the government can’t do anything.

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The Case for the Export-Import Bank

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Veronique de Ruay, “Ex-Im Bank Competitiveness Doesn't Helo Export Competitiveness,” testimony before the Ex-Im Bank Advisory Committee, September 30, 2021, https://www.mercatus.org/research/federaltestimonies/ex-im-bank-competitiveness-doesnt-help-export-competitiveness (accessed February 22, 2023). Export-Import Bank of the United States, Report to the U.S. Congress on Global Export Credit Competition for the Period January 1, 2020 Through December 31, 2020, June 2021, p. 3, https://img.exim.gov/s3fs-public/ reports/competitiveness_reports/2020/EXIM_2020_CompetitivenessReport_Web-Ready_Single%20pages. pdf (accessed February 23, 2023).
Export-Import Bank of the United States, Report to the U.S. Congress on Global Export Credit Competition for the Period January 1, 2019 Through December 31, 2019, June 2020, p. 38, https://img.exim.gov/s3fspublic/reports/competitiveness_reports/2019/2019-EXIM-Competitiveness-Report-FINAL.pdf (accessed February 22, 2023).
De Rugy and Leventhal, “Ex-Im Bank: A Comparative Analysis of Pre- and Post-Quorum Lending,”
pp. 7 and 10. Export-Import Bank of the United States, Keeping America Strong: Export-/mport Bank of the United States 2019 Annual Report, pp. 6 and 10, https://img.exim.gov/s3fs-public/reports/annual/2019/EXIM_2019%20 AnnualReport_508C_Web.pdf (accessed February 22, 2023).
Export-Import Bank of the United States, A// America: Export-/mport Bank of the United States 2020 Annual Report, pp. 7 and 42, https://img.exim.gov/s3fs-public/reports/competitiveness_reports/2019/2019-EX|MCompetitiveness-Report-FINAL.pdf (accessed February 22, 2023). Export-Import Bank of the United States, Building a Better America: Export-lmport Bank of the United States 2021 Annual Report, p. 22, https://img.exim.gov/s3fs-public/reports/annual/2021/EXIM_2021_ AnnualReport. pdf (accessed February 22, 2023). Congressional Budget Office, “Fair-Value Estimates of the Cost of Selected Federal Credit Programs for
2015 to 2024,” May 2014, pp. 1 and 5, httos:/(www.cbo.gov/sites/default/files/cbofiles/attachments/45383FairValue.pdf (accessed February 22, 2025).
Export-Import Bank of the United States, Office of Inspector General, Report on Portfolio Risk and Loss Reserve Allocation Policies, OIG-INS-12-02, September 28, 2012, https://img.exim.gov/s3fs-public/oig/Final20Report-20Complete-20Portfolio-20Risk-20120928-1.pdf#:~:text=Date%3A%20September%2028%2C%20 2012%201%20am%20pleased%20to,measure%2C%20price%2C%20and%20reserve%20for%20its%20 portfolio%2Orisk. (accessed March 21, 2023). See also Export-Import Bank of the United States, Office of Inspector General, Export-/mport Bank’s Management of Direct Loans and Related Challenges, O|G-AR-13-05, September 26, 2013, https://img.exim.gov/s3fs-public/oig/audit/OIG-Final-Report-Audit-of-Ex-Im-Bank-sManagement-of-Direct-Loans-and-Related-Challenges-09-26-13-2.pdf (accessed March 21, 2023).
Veronique de Rugy and Justin Leventhal, “The Ex-Im Bank Is More Responsible Without a Quorum,” Mercatus Center at George Mason University Data Visualization, December 11, 2018, https://www.mercatus.org/research/ data-visualizations/ex-im-bank-more-responsible-without-quorum#:~:text=At%2063%20percent%20 without%20a%20quorum%2C%20the%20Ex-Im,is%20doing%20better%20without%20the%20Ex-Im%20 Bank%E2%80%99s%20aid (accessed February 22, 2023). Figure 3, “Arrangement Official Export Credits—Destination Countries by Income Level (Billion USD),” in Organisation for Economic Co-operation and Development, “Export Credit Statistics: Trends and Cashflow: Trends in Arrangement Official Export Credits (2009-2019),” https://www.oecd.org/trade/topics/exportcredits/statistics/ (accessed March 21, 2023).
Export-Import Bank of the United States, Bui/ding a Better America: Export-Import Bank of the United States 2021 Annual Report, pp. 19, 44, and 47. Export-Import Bank of the United States, Annua/ Management Report for the Year-Ended September 30, 2022, and September 350, 2021, pp. 1, 7 and 57.
ews release, “Ex-Im Bank FY 2012 Annual Report Details Fourth Consecutive Record-Breaking Year,” Exportmport Bank of the United States, November 26, 2012, https://www.exim.gov/news/ex-im-bank-fy-2012annual-report-details-fourth-consecutive-record-breaking-year (accessed March 21, 2023).
Bloomberg News, “China Retreats on Going Toe-to-Toe with US on Critical Tech,” The Sydney Morning Herald, January 4, 2023, https://www.smh.com.au/business/the-economy/china-retreats-on-going-toe-to-toe-withus-on-critical-tech-20230104-p5cae9.html (accessed February 23, 2023).

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