Business Leaders Turn On Republicans And Blast Them For Having No Idea What They’re Doing

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Democrats are not impressed with Speaker John Boehner’s “leadership” as once again the Republican-led House failed to do even the most basic work, letting the 81-year-old institution of the Export-Import Bank charter expire Tuesday evening. But even more telling is the rage of the business community at Republicans, who charge that they do not know what they are doing.

Democratic Leader Nancy Pelosi’s office said in a statement, “The job-creating Export-Import Bank’s charter expired at midnight under Speaker Boehner’s watch for the first time since it was created in 1934 during the Great Depression.”

Pelosi’s office included quotes from various papers, some of which are stunning:

The Seattle Times stated: “Jobs will be lost. Companies will go out of business.

Boeing, Caterpillar and General Electric will lose an important tool to level the international playing field (for every major nation has its version of the Ex-Im Bank), but they will survive. The same can’t be said for many of the 200 or so smaller companies helped by the agency. Many will be entirely shut out of the export markets vital to their survival.”

So much for being the party of jobs or business.

In an article titled “Export-Import Bank set for midnight expiration, conservatives cheer demise”, Fox News reported, “Conservatives cheered the demise of the federal Export-Import Bank Tuesday and vowed to beat back efforts to revive it, even as business leaders issued dire warnings that letting the agency expire at midnight would hurt U.S. competitiveness globally.”

Under pressure from tea party-backed conservatives, GOP congressional leaders and presidential candidates have lined up against the bank, defying their traditional allies in the business community who support it.

They continued with a quote from Don Nelson, the President of California-based ProGauge Technologies, on Republican House Majority Leader Kevin McCarthy, “Truth be told, he has zero experience or knowledge on the topic and yet he and other misguided congressmen portray they’re experts on this topic and say the private sector can take over.”

And the death shot, “They really don’t have a clue what they’re doing or the damage they’re going to inflict on small businesses in America by closing the Ex-Im bank.”

So much for the idea that the Republicans are the Party of small business.

Lest you think this was an accidental failure, nope. It’s more of that Tea Party dysfunction that Boehner let’s drive the House. You see, conservatives wanted this charter to expire because they see it as a “free market distortion”.

“This is a small step toward renewing a competitive free-market economy and arresting the rise of the progressive welfare state and the cronyism connected to it,” said House Financial Services Committee Chairman Jeb Hensarling, R-Texas, who had led the effort to end the bank. “Now the challenge for supporters of a competitive free-market economy is to make sure Ex-Im stays expired.”

The House and Senate are on break for the July 4th holiday, so there will be no last minute cliff-hanger as Democrats find a way to save the country from the awe-inspiring, shameless dysfunction and destruction of the Republican party. Republican Senate Majority Leader Mitch McConnell is trying to drum up ways to sneak it past the Tea Party extremists who run his party, but with Heritage and others pushing House Republicans over the cliff of reason, this path seems dubious.

We knew Republicans didn’t care about jobs for the 98%, so that’s not news. Republicans have ceded being the party of fiscal responsibility and the party of national security to Democrats, who have done better on both fronts in modern times. Now it seems they are hell bent on ceding “the party of business” to Democrats as well.

40 Replies to “Business Leaders Turn On Republicans And Blast Them For Having No Idea What They’re Doing”

  1. The rest of us have known this for 30 years.

    What took them so long to figure this out?

  2. The ‘small’ business establishment has fooled themselves that they are on par with the oligarchs and the Billionaire Class, thinking that they were an equal member in the exclusive club.
    They paid their dues and invested in Stupid. What did they think was going to be their reward ?

  3. if these so called business leaders got their head out of their rear, and backed the prez from day one, when he proposed a major stimulus to rebuild infrastructure, smart power grid, and other major projects that would have had at least 3 MILLION good paying jobs. many could have been filled by the disenfranchised urban youth [see ccc], but no, the cons cant let us commie libs get any credit for fixing what raygun, bush and bush, have done to the usa in 30 years.

  4. “They continued with a quote from Don Nelson, the President of California-based ProGauge Technologies, on Republican House Majority Leader Kevin McCarthy, “Truth be told, he has zero experience or knowledge on the topic and yet he and other misguided congressmen portray they’re experts on this topic and say the private sector can take over.”

    And the death shot, “They really don’t have a clue what they’re doing or the damage they’re going to inflict on small businesses in America by closing the Ex-Im bank.”

    It took these businesses seven years to figure this out?

  5. Dems, go on your vacation break. Do not bail out the GOP for their failures. Let them get themselves out of yet anther mess they have created.

  6. Of course they don’t know what to do- all they’ve done for umpteen years is exactly whatever they were told to do by the Koch Brothers.
    To be proactive would be a Leadership Skill. Something few, if any, Republicans actually have.

  7. No longer even the Party of Greed, the GOP has become the Party of Spite at the expense of profits, which would earn them a death sentence among the Ferenghis.

  8. Yikes! These Tea-Party termites are stepping in their own $#it and loving every bit of it. They are really the destroyers in charge. WHEN? WHEN? is America going to open its collective eyes and get rid of these obnoxious nation wreckers. Like termites they are destroying the country from within. So, as I said they have to be expunged so that the foundations don’t crumble. They seem content at doing just that: Letting it crumble. VOTE THEM OUT!

  9. Wait, they’re on break again?!? No, no, no, no! Get those dummies back to D.C. and fix this mess!

    This bank has been working for 81 years with no issues and now because the Republicans couldn’t lead a cold out of a paper bag, it’s been shut down.

    I don’t get it… if they aren’t doing their job, why the fuck were these guys even elected for?!?

  10. This needs to hit the news channels. These tea party nut jobs have to be exposed, they have to be held accountable for their actions.

    They want to drown as much of our government as they can.

  11. Does anyone here even know what the Ex-Im Bank does and why it’s so vital that it stays open? I’ve heard of it, but I have no idea what it does. I guess that’s my self-education project for the weekend.

  12. What is truly amazing is that the bank was actually a money maker for the government, so this actually ends up reducing government income, thereby increasing the deficit.

  13. The TEA BAG/REPUBS have bit**ed about how SLOW the jobs were being created under president Obama and now this has expired and MORE jobs will be lost.

    Ummmmmmmmm, this was the TEA BAG/REPUB and DUMYA’S legacy

    We lost 8.4 million jobs
    In 2008 and 2009, the U.S. labor market lost 8.4 million jobs, or 6.1% of all payroll employment. This was the most dramatic employment contraction (by far) of any recession since the Great Depression. – See more at: http://stateofworkingamerica.org/great-recession/#sthash.yLabseMq.dpuf

  14. This is what happens when you let the inmates run the assylum. Small business is just another victim of their destruction. Let’s see who will be the next Republican backer who is stabbed in the back by those same Republicans.

  15. look beyond the curtain – Boehner did this for personal gain. He doesn’t let anything just slip – there was something he got out of it behind the scenes

  16. Problem is that the damage that these idiots are doing to the economy is going to be very difficult if not impossible to repair. They are taking us down an impossible path of destruction and no matter which Democrat we put in the white house, she will need a super majority congress or a magic wand to fix this. We saw how long it took the miracle worker Obama to pull us out of GW’s destruction. It makes you wonder if these GOP morons are just stupid or are they doing it deliberately.

  17. Ed, my personal opinion is that the GOP knows exactly what they are doing.

    They will destroy this country to their hearts’ content, hoping that by 2016 election time things will be such a disaster, they can say..look what a horrible job Pres Obama did, vote for GOP.

    They are cold and calculating..they know what they are doing. They are acting with total malfeasance. Not to say they are not stupid as well, but they are calculating and evil.

  18. The next President,one DAY 1,should cut ALL benefits and pensions to these corrupt frauds,RETROACTIVELY!!….Cut everything from A to Z.

  19. The Ex/Im bank should have expired, it should have never existed in the first place. Tax payers should not be underwriting these loans for private businesses. Let private insurers take that risk like they do in all other circumstances.

    However, that does not preclude the idea that Boehner and other republicans are incompetent and generally terrible.

  20. Why don’t you like helping fellow Americans? Are you one of those republicans that only like big businesses? The one’s that did get help from US taxpayers…the one’s that still get subsidies? I’m a taxpayer and I don’t mind helping out the little guy/gal.

  21. They don’t do half the damage the bigoted, fanatical religious, ignorant, greedy, know-it-all voters do. They’re against The Affordable Health Care Act, Social Security, Fair Labor and everything else they call socialistic. They want this country to be formed around feudalistic ideals. They’re not happy with stealing the pie and all the crumbs to, they want to be in power to hand out the crumbs in exchange for slave labor and protection.

  22. Exactly what I was thinking as I read the piece.

    rethugs know well what they are doing all, with malice and forethought.

  23. Republican opposition to expanding health care hurts business; opposition to minimum wage increases,hurts business;closing the Ex-Im bank hurts business. So tell me again why Republicans are the party of business.

  24. And again the middle class is screwed by the GOP and the poor have a greater chance of remaining poor, hungry and unemployed. Who votes for these GOP assclowns?

  25. “Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires”.
    John Steinbeck.

  26. `I think it’s two things. They have zero experience how government works, and they have such a deep-seeded hatred of our President (based on race) they would bring this country down before they give him anything that keeps the government running smoothly and competitively.

  27. Tea Party Republicans have rats brains. Picking up a piece here, setting it down there. They certainly lack a neocortex. No reasoning allowed. They prove it over and over again. So no, I don’t think this is part of a master plan. It was part of Mitch McConnell’s plan to make Obama a ‘one term president’. FOX News actually believed it (remember the stunned look on Bill O’Reilly’s face) as Obama won a second term by a landslide. (Swing states ’08: 11-0, ’12: 10-1). The P.O.G. (party of god) Jump the Shark moment was when they invited Netanyahu (and he was too stupid to see that 3 out of 4 American Jews voted for Obama!). The action on the EXIM bank makes sense if you view the G.O.P. as a party of religious fundamentalist. Which they are, for better or worse.

  28. Does anyone here even know what the Ex-Im Bank does and why it’s so vital that it stays open?
    “““““`
    It’s my understanding that the Ex-Im Bank is involved in only 2% percent of U.S. exports – the other 98% function just fine without it. The expiration of the Ex-Im would mainly affect the profit margins of a handful of big corporations.
    And it’s not just conservatives that oppose the Ex-Im. Doesn’t Bernie still oppose it?

    In the past, many Democrats opposed it as well. Pres. Obama – back when he was campaigning in 2008- spoke about killing government programs that don’t work, specifically pointing to the Ex-Im bank… but then, I guess that was before he had so many good buddies from Wall Street.

  29. You nailed it perfectly Kranky: The Lab rats pushing the lever for lower taxes; except those ‘lower taxes’ went higher up the wealthier food chain, while truly Small business got the scraps.
    The ruse works perfectly, keeping Small Biz Owner/Voters hungry enough to Continue pushing the lever for the candidate that promises “Lower Taxes.
    But their hunger is Never satiated. Thus the ‘hamster wheel’ never stops.

  30. We knew Republicans didn’t care about jobs for the 98%, so that’s not news. Republicans have ceded being the party of fiscal responsibility and the party of national security to Democrats, who have done better on both fronts in modern times. Now it seems they are hell bent on ceding “the party of business” to Democrats as well.

    Most of us small progressive business owners knew this all ready; we are just waiting for our more conservative biz brothers and sisters to wake up to the fact that the GOP cares nothing for the average citizen, let lone the small business owner.

  31. Export-Import Bank’s cloudy future raises worries of job losses But opponents said the job figures are inflated. And they noted that the $27.5 billion in exports is a minuscule portion of the nation’s $2.3 trillion in total exports, demonstrating that the bank can disappear without major damage.

    A STEP TOWARDS REDUCING THE TRADE DEFICIT: The U.S. is currently running a net trade deficit of over $500 billion dollars, 40% deficit, each year with our “trade partners.” We have been doing this since the late 1970s. We buy from them, but they don’t reciprocate and buy from us, so the trade is out of balance – way out of balance … Robert Scott at the Economic Policy Institute (EPI) writes, “Rising trade deficits are to blame for most of the 5.7 million U.S. manufacturing jobs (nearly a third of manufacturing employment) lost since April 1998.” … If people understood the trade deficit and the harm it does to approximately 99.9 percent of us, they would demand that our poli…

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