The quote conveys Stephen Moore's sentiment about the desire within conservative circles to eliminate the Export-Import Bank of the United States. This institution, often abbreviated as Ex-Im Bank, serves as a financial arm for U.S. companies seeking to conduct business abroad by providing loan guarantees and insurance.
At its core, this statement reflects broader conservative ideologies regarding government intervention in the economy. Moore's comment underscores the belief that the Export-Import Bank represents an unnecessary form of corporate welfare that encourages market distortions and unfairly benefits large corporations at the expense of smaller businesses and taxpayers. Conservatives often advocate for a reduction in governmental economic support mechanisms, arguing that such institutions stifle competition and innovation by favoring established players over new entrants to the market.
Stephen Moore is a well-known economist and commentator who has been closely associated with conservative think tanks and media outlets. He was previously affiliated with The Heritage Foundation and served as an official on President Donald Trump's Council of Economic Advisers. Known for his advocacy of free-market principles, Moore frequently contributes to discussions about economic policy reform and critiques government regulatory frameworks that he believes hinder business growth and prosperity.
