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Failing basic economics
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Here's a quiz: Which politician favors reauthorizing the Export-Import Bank, which aids American companies that compete in world markets and last year helped support $37 billion in exports and 205,000 domestic jobs while actually turning a profit?Is it Rep. Kevin McCarthy, the new majority leader of the House of Representitives, who voted for the agency in 2012 and belongs to a party long defined by its devotion to business interests? Or President Obama, often characterized by his opponents as a job-destroying crypto-Socialist?It's a measure of how crazy things have gotten in Washington that the answer is Obama. He's joined with such notorious right-wing groups as the Chamber of Commerce and the National Association of Manufacturers in defending the Ex-Im Bank, whose charter expires Sept. 30.