TED CRUZ  ON THE WASHINGTON CARTEL -  RESTORING LIBERTY IN THE AGE OF CRONYISM

 

Export Import Bank EM IM Bank.

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once again congress had become enmeshed in backroom deals

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and they were using TPA

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as an opportunity

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to promote among other things reauthorizing the Exim Bank

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and potentially even enabling

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President Obama's illegal expansion

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the immigration and this seems to be an all too common trend in washington that

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whatever is happening

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corrupt back-room deals dominate the end product

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when american families one small businesses

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and when the most vulnerable among us are hurting Washington has a tendency to

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jump to action but not to help those who need it most

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Washington is looking for solutions

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for Washington not solutions that empower citizens

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across the nation to succeed instead Washington solutions invariably help

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the rich and well-connected when the 2008 housing crisis hit

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millions of Americans leaving families with real estate at a fraction of the

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value sunken savings accounts

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and mortgages they couldn't pay back what did congress do

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bail out big business it handed out hundreds of billions of dollars

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to banks and institutions that were deemed quote too big to fail

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sadly the american workers never deemed too big to fail

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this enabled the banks to concentrate even more power

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and in fact a buyout weaker banks for example PNC

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receive 7.5 billion dollars

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well National City didn't receive anything which then gay PNC the

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advantage

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and then they turn around in bonn out National City since 2008

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the big banks have only gotten bigger

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as the

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noted at the end 2011 five banks

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held more than 8.5

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trillion innings

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equal to 56 percent in the United States economy

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and that's up from 43 percent five years earlier

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remember dodd-frank was sold to the american people is stopping too big to

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fail what we see today the big banks are even

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Baker as car owners struggle with high gas prices in 2009

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the federal government responded by handing over

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eighty billion dollars to GM and Chrysler

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and its suppliers in 2010

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as many hardworking Americans crawled out from under the financial crisis

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to revive their communities and regain their financial footing

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Congress passed the dodd-frank Act

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which has yielded over nineteen thousand pages

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regulation no bill that large new regulations that voluminous

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could possibly be good for any small institutions

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and since then hundreds of community and regional banks

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have clinched now too important to understand that was nineteen

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unintended consequence that wasn't looks we didn't realize this would happen

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the lobbyist for the big banks we're sitting at the table when dodd-frank was

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written

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it was designed

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by Washington to favor the big guys

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over the little guys and I would note the proponents said that regulations

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inevitably

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they claim they're helping the little guy now either they're not telling the

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truth

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course they're really really bad at what they do

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because every single time they jump in with massive regulations it helps the

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giant corporations

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and the people they get hammered are the little guys

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in 2013

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when Obamacare went into effect imposed

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huge burdens on small business owners and young people

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union bosses and members a congress receive

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special favors and exemptions the very people who wrote the law

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Harry Reid the Senate Democrats that he wanted at

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and this administration was only too happy to oblige

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today the taxpayers subsidize

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their platinum plans while millions of Americans across this country

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have lost their jobs have been forced into part-time work have lost their

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health insurance

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have lost their doctors are facing skyrocketing premiums

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members of congress retain their illegal exemption from Obamacare

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washington's favors have gone on for far too long

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you take a look at the map in the United States

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our office took every county in the country

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and color-coded for whether median income had gone up for going down

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it's quite striking that map looks almost exactly like

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a geological map a shale formations

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across this country India on the senate floor I put that map up with a clear

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plastic overlay up the shale formations

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you can see up in the Bakken North Dakota counties

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all others county's median income skyrocket in see the Barnett Shale in

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the Permian in the Eagle for

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median income is skyrocketing see the Marcellus Shale meeting come to

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skyrocket although it's interesting

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the Marcellus Shale doesn't and that the Pennsylvania border

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but the job still because the politicians in New York it decided

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apparently New Yorkers don't want jobs they don't want to provide for their

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family

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or their idiot politicians are gonna stand in the way and prohibit them

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so even though they have resources in New York the very same resources

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that are in pennsylvania the line between the states is like the finger of

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God threw it on the ground

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souter that line there are jobs the median income has gone up north and that

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line

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not a single one of those counties as median income

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on you look at the Monterey shale in California abundant resources

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done at those counties have gone up because the California politicians just

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like the New York politicians

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think california men and women don't want to provide for their families

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but do you know the one notable exception to that rule

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the county's in and around Washington DC

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are right bright

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green sick said the 10 most a fluent counties in the country

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are located in the DC metropolis those

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live of the federal government

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are getting fat an almost

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every other county in america median income has stagnated you're gone

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Washington

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done a great job for one thing picking winners and losers

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except it's clear each time who the losers are it's the american families

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who are struggling

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to pay skyrocketing health care premiums and tuition costs

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it's our community banks in marketplaces they're going to business

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its young entrepreneurs and small business owners

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majority of Americans don't have the time don't have the resources

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to lobby washington politicians they're too busy going about their daily lives

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working hard

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to provide for their families and take your their kids for example

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when Tesla successfully lobbied Washington for a 1.3 billion dollar

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taxpayer subsidy

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average americans with hard work

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certainly weren't spending their time thinking about the need to subsidize

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rich yuppies to spend a hundred thousand dollars

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to buy an electric car look at rich people want to buy an electric car knock

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yourself out

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but why should we be hammering

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hardworking taxpayers to add another car to the four-car garage

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that doesn't make any sense

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will be

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burn it looks out the powerful and well-connected average americans over

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and over again get the short end of the stick

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with a ruling expected any day now in King Garces Burwell

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the Obama administration has already at the behest to the insurance companies

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crafted a contingency plan that allows insurers to cancel plans

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in the event that their subsidies go away to the Fat Cat insurers are taken

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care of by big government you guys are fine here's the contingency plan

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but the average American taxpayer they don't have a contingency plan

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the Obama administration has no credible plan what so ever

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for the millions of Americans

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who will be left to pay the full price

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Obamacare's big government mandates

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the rich

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and well-connected keep getting more and more favors at the behest of hardworking

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Americans

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and we have got to stop this here is a very simple rule of thumb and it is

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contrary to

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everything our friends in the media tells big-government

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benefits big business

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small-government benefits small business

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and hard-working men and women you will never hear that in the nighttime news

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because the purveyors a big-government

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always promised there helping the little guy and yet they keep getting the fat

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cats richer and richer

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and richer lobbyist in career politicians today make up when I call

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the Washington Kartel

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and operates very much like other cartels

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in operates like opec I don't know like shakes if they actually wear robes

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but they nonetheless on a daily basis are conspiring against the American

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people

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I'm explain how it works a bill is set

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come before congress and careers politicians years and wallets

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car open to the highest bidder corrupt back-room deals result

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in one interest-group getting preferences over the other although you

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get the other a chance now that the

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or even worse a very very small interest-group

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getting special carve-outs at the expense of taxpayers

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and those who don't oblige well they are shunned by the carter

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effectively locked out just this week

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we saw shameful example if this is house leadership

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through representative Mark meadows and his chairmanship

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because it is principled objections to TPA just this morning news broke that

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leadership

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is now seeking to strip Ken Buck another conservative

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in the house and his leadership position why is it that republican leadership

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always always always cuts deals with the democrats

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in with Washington in throws

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overboard the conservatives that come October and November in an election year

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they're desperately asking the turnout an elected in power

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Washington Karcher

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has amassed more and more power at the expense to the american taxpayer

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with the same recipe repeated over

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and over again so today I want to look at four examples

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the Washington cartel at work i wanna talk about who their schemes are hurting

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how we can restore freedom bring back jobs

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and growth and opportunity and how we can defeat

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the washington part let's start with the export-import Bank

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hard to imagine institution that is more emblematic

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cronyism and the export-import Bank

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export-import bank is essentially welfare

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for big corporations both foreign and domestic

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President Franklin Delano Roosevelt

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relation all now to source that much a progressive is

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instituted the back what does the bank actually do

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it provides loans and loan guarantees to handpick corporations

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20 the favored methods

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and cronyism Washington handing out

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taxpayer money to select a giant corporations

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now on principle is nothing wrong with loans being given except it's not

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private investment it's not

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people actually risking their own capital and assessing the risk reward

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rather it's funded on the taxpayer dime prior loan guarantees from the XM anchor

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benefits such a paragon the corporate virtue

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as and Ron and Solyndra

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as it stands now taxpayers are currently on the hook for over one

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100 billion dollars

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in loan guarantees if the project succeeds

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the giant corporations make a profit if they fail

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the taxpayers foot the bill now those are pretty good arts

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in Vegas that's called playing with the house

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as it stands

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today the accent bank funds roughly 2 percent

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and american exports could yet up that two percent

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from 2007 to 2013 the majority of the benefits

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have gone to 10 select companies

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it's good to be the king in its good

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to be a major donor to the king and to be gathering billions of taxpayer

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dollars because it

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along with subsidies

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support foreign companies it's not just domestic companies

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foreign companies do very well with the XM bank at our expense for example Air

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India

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a state-owned company that's right now putting at risk approximately 7,500

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American jobs

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with the help a local scene

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or

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trillion Roy Hill Mine to the detriment of our manufacturers and ultimately

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resulting in an estimated loss

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above $1 billion dollars in iron ore sales here in America that's the

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taxpayers

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funding the government funding foreign corporations to hurt

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american workers xn kills American jobs

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and often favors foreign investment over american investment

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it also has this terrible record

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up subsidizing on friendly regime

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with problematic human rights records

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in 2013 just one year the XM bank streamed

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$35 million dollars to Venice Whaler banks and investors

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$335 million dollars to Argentina

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one billion dollars to russian financiers

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and 2.7 billion the Communist China

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mind you this is at the same time

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russia's invading ukraine we're saying this is unacceptable by the way here's a

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billion dollars

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that sort of makes that foreign policy protestations have that

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administration a little bit how several companies that oversee taxpayer-backed X

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in financing

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even admitted to previously doing business in Iran

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through their subsidiaries undercutting efforts to sanction the Iranian regime

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moreover the Justice Department

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recently indicted former ex and Loan Officer John Eagle the Ennis

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with Brad Richards more charges could be coming in this very institution

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heritage foundation uncovered some 74 cases

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a fraud and corruption at the axiom since 2009

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the washingtons cartels

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favoritism in cronyism inevitably breach corruption when you have government

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officials giving out billions of dollars of taxpayer money

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suddenly the people who want that taxpayer money

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every incentive in the world further that corruption both latent

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and blatant and yet

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the process the passing TPA

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it appears that senator ripper and house leadership is made a deal

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to schedule a vote to reauthorize the export-import bank that that was part of

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the price

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up tp et and was a major reason why I voted now

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now in response to my criticism leadership in both chambers said there

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is no deal

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excellent fruit

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if there is no deal we should let xn expire

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and let it stay expired for once

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all congress has to do is do nothing and if congress is good at anything it's

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doing nothing

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if leadership as it says this week there is no deal on XM

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then simply do nothing let it expire

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and ended the gravy train for washington lobbyist on the export import bank

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a second example

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renewable energy mandates

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arbitrary government regulations the distort the free markets

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an artificially raise the cost for american families and job creators

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in 2005 Congress passed the Energy Policy Act

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and one other provisions in it was the renewable fuel standard

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which requires that we limit renewable fuels

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be mixed into our gasoline supply now I support renewable fuels I support my

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appeals

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but I don't support policies from washington

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that pic winners and losers in the market wanted the mandate included

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was the ethanol mandate over the years

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is been proven there's a demand for ethanol

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in the market when ethanol should stand on its own

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not

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atop the footstool the government the ethanol mandate requires sixteen billion

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gallons of biofuels

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requiring a plot of farmland roughly equal to the size of the state of

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Kentucky

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as a result that is diverted corn from livestock

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and food supply and has contributed to increase the price

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several months ago there was an agriculture some in the state of Iowa

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mostly Republican

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candidates for president attended that some

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every single candidate but one

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pledged his support for continuing the Iowa

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at the moment very easy for conservative politicians to talk about ending

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cronyism

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but when you're standing in front a people who are the beneficiaries

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that's when you separate talk from action big-government energy mandates

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don't stop with ethanol

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their tax credits for almost every format energy

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each designed to get one industry a leg up over the other

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there's enhanced oil recovery credits

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for producing oil and gas from marginal wells

20:58

there's an advanced nuclear power generation cracked

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clean coal investment credits

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and a credit for plug in electric and fuel cell vehicles

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and of course the infamous wind production tax credit

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talking about went a two-year extension to win credit alone

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cost taxpayers more than thirteen

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billion dollars which is enough

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to pay the monthly electricity bills

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for 124 million Americans

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about putting that up for a referendum

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do we continue to benefit one favored industry

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or do we pay the electricity bill

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for 104 124 million americans you know what I don't think that would be a

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vote for the american people and what's interesting it's not a close vote

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Washington

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because the only people voting in Washington and the lobbyists

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with bags of cash and the lawmakers in both parties

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eager to get that cash for decades the federal government has teamed up with

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specific industries to pick

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winners and losers in the energy industry aside from

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further complicating an already Byzantine tax code

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this type of corporate welfare is only to store the price of energy

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and empowered fail companies like Solyndra

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my good friend senator mike lee has taken the lead in previous congresses to

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level the playing field to end the special-interest handouts and stop the

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energy cronies

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how about instead of picking one industry after the other after the other

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benefiting them all to compete against each other we take the taxpayer out of

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the game and let them fight it out in Fairfield

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senator leahy is introduced the energy freedom and economic prosperity act

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a bill designed to eliminate all energy tax credits

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and a bill the senator jim DeMint championed

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before Mike took the lead a third example

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sugar subsidies that artificially drive prices higher for the benefit of you

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to come as no surprise put another poster child for big government picking

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winners and losers

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traces its origins back to the New Deal the Sugar Act

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impose quotas on US sugar production

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and restricted restrictions on imports sugar

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while subsidizing US production now I will note

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this form of cronyism seems particularly

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on america after all before the key and stamp act

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came the Sugar Act in 1764

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you'll recall we fought kinda bloody revolution over that

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and it was then that the cry of note

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taxation without representation was widely voiced by the colonists

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you know what we do have representation now

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but I representatives are representing us

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there representing giant corporations and lobbyists

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rather than the american people in it is the exact same circumstance have no

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taxation without representation

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how bout the elected representatives in Washington actually represent

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the many women back home that were supposed to be working for

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the sugar program imposes restrictions

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on how much sugar can be sold it provides a benevolent allotment

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for each processor and makes it illegal to sell more than the government's

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designated an apt

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how one could be forgiven

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for thinking this kind of centralized planning

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came from former Soviet apparatchiks

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you'll go sell that you'll go sell that

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I mention the cartel

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what opec does every year they sit around the table and say you go sell

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that

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you go sell that we're going to conspire

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against the American taxpayers

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both cartels by the way have the same principle victims

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unfortunately both Republican and Democratic administrations

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have kept this program essentially unchanged

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for eighty years increasing the cost to sugar for all Americans

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Wall Street Journal reported last december

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that at the time sugar was fifty-eight percent more expensive here at home

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that the global market why should Americans pay

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fifty-eight percent more for sugar then people in the rest to the world only

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because the Washington cartel

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is taking that additional money and giving it to the select few

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favored lobbyists and it's not just sugar

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that you put into your coffee or UT sugar is an ingredient

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in a great amount that we

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eat from pastries two southerners

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is my two little girls will tell you treats on a nightly basis

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and this price control increases food costs for businesses and families

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particularly low-income households

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if you're a single mom struggling to make ends meet if you see

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the food cost when you go to the grocery store and try to feed your kids go up

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and up and up and up

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and your salary doesn't seem to match it part of the reason is the washington

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cartel

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isn't listening to you and they're happy to take money from your paycheck

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and make fat cats even fatter

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that's the corrupt game that's going on in fiscal year 2013 the average price

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for american Ross sugar

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was six cents per pound higher

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than the average world price as a result

27:11

Americans paid or not necessary

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1.4 billion extra

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for sugar now

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there some Americans who don't even make one point four billion any

27:29

that's real money and every time Washington picks winners and losers the

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winners are concentrated but the losers you can identify

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from 1997 to 2011

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nearly 127,000 jobs

27:45

were lost in domestic sugar using

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industries 127,000 jobs

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think that the men and women who work in chocolate factories working in bakeries

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working in soda factories it now or

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unemployed in one of the reasons is the federal government is driving up the

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cost to their inputs

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and values fattening the lobbyists more than your job

28:12

according to a 2006 study by the US Department of Commerce

28:18

for every sugar growing job that stems from artificially high sugar prices

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approximately three manufacturing jobs are lost

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now that's math that makes sense only in Washington DC

28:31

and here's the kicker you want to understand the concentration sugar

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companies

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make up just 0.2 percent

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the farms in america anyone know what percentage of the crop industry's total

28:48

lobbying expenditures come to search other

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40 percent 0.2 percent on the farms

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generate 40 percent in the lobbying why because if you're lobbying is yielding

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one point eight billion dollars

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there's good man and the single mom is paying higher food prices

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the Chocolate Factory owner has laid off it is now in unemployment neither one of

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them

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have lobbyists in Washington neither one of them

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have a whole lotta representatives who are listening to them the fourth and

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final exam

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internet sales tax

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we look

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one example how the washington cartel helps foreign nations and foreign

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investors

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how it chooses winners in leaders among american industries

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now let's look

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an area that has been blessedly largely free

29:48

from government regulators the Internet the Internet

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has been an incubator for new ideas it has been a haven for entrepreneurial

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opportunity it is allowing

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millions of people to create small business and by the way the people who

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are most freed up on the internet are the most vulnerable its young people

30:05

hispanics african-american single moms

30:07

people who want a better life you know it used to be twenty years ago if you

30:12

want to start a business units in capital

30:14

you needed to be able to buy an inventory data warehousing and

30:18

distribution system that took money

30:21

if you're just getting started if your teenage immigrant like my dad was in

30:25

1957

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washing dishes making fifty cents an hour you're not likely to have the

30:31

capital

30:31

to start a business whether the internet do it transformed

30:35

you have a good or service you wanna sell you set up a website suddenly have

30:40

worldwide marketing

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someone clicks on the website says I want to buy your good service

30:44

in the senate and FedEx and booming delivered anywhere in the world

30:48

you know who that terrifies

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politicians and wash this freedom thing is very very scary for Washington

30:58

Washington is all about power

30:59

can control today parents can purchase Christmas presents for the kids to the

31:05

click the button

31:06

a teenager can design an app that revolutionizes

31:10

ways things are done a mom can seller handmade cards on Etsy

31:15

or with a few taps and over can come to your doorstep and by the way the next

31:20

time you take over

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I'll let you know I don't have a car in washington over is transformational

31:28

the next time you take over as the other driver how he or she likes the job

31:32

I have yet to find a new car driver who is it

31:35

thrilled at the freedom becoming a small business owner

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that the Internet has enabled and yet what is congress talking about doing

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it's talking about passing

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the Orwellian named Marketplace Fairness Act

31:49

now we've seen the pattern of Washington fairness what is washington fairness

31:56

hammer the little guy help the big guy that's very fair to lobbyists on K

31:59

Street what with the Marketplace Fairness Act do

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it would take every online retailer in america and tell them you must now

32:07

collect

32:08

sales taxes for over 9,600 taxing jurisdictions

32:13

all across this country in real time

32:16

I want you to think about it let's suppose you're that single momma started

32:22

the business you're selling online

32:24

you're supposed to collect the Albany school taxes now Brett do you know what

32:28

the Albany school tax rate is

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do you know if there's a hearing scheduled next week to change it

32:33

well if you decide to start a small business you're expected to now when you

32:37

could face an

32:38

audit from 9600 jurisdictions across this country

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if you haven't correctly collected the Albany school tax and you don't know

32:47

that they raised by a quarter-point

32:49

in their last vote which I have no idea or not

32:52

why does the Marketplace Fairness Act

32:58

have support has support because as a perfect storm a lobbyist number one big

33:04

box stores

33:05

the major bricks-and-mortar retailers they want to hammer the hack

33:09

at these online retailers: but here's the interesting thing that shifted

33:13

so to the big online retailers up the 20 largest online retailers 19 at them

33:20

have physical presence is in so collect sales taxes

33:24

age is a state that has sales tax so suddenly have

33:29

the big box stores the bricks-and-mortar retailers the big guys

33:33

and the giant online retailers

33:36

joining forces and suddenly they have a common enemy

33:39

all these pesky little startups that had the temerity to try to take their

33:44

customers

33:45

and in washington there's nothing more beautiful

33:49

then when the lobbyist all the line when

33:53

all the money is pointing in the same direction suddenly you see republicans

33:56

and democrats saying

33:58

that is an inspired policy good

34:01

and yet olive the millions have young people

34:06

entrepreneurs are people with an idea that one atop

34:09

the next giant company they don't have a single lobbyist

34:13

the American people with the summer this

34:18

2013 gallup poll showed fifty seven percent a likely voters opposed taxing

34:24

the Internet

34:24

among young people the demographic that represents the future of this country

34:30

seventy-three percent oppose a tax on the Internet

34:36

we should stand with the people

34:41

it is time

34:44

to break the Washington cart instead of cutting blue-collar jobs by investing

34:51

millions and foreign mining corporations

34:54

we should welcome jobs and production here now instead of giving selected

34:58

energy producers

35:00

an automatic check we should let the market determine their viability

35:04

instead of forcing restaurants and bakers and families

35:08

to pay more for sugar and undercut competition we should welcome

35:14

lower price and instead of handing over

35:19

more power to big corporations and regulators let's keep the internet free

35:23

and encourage young entrepreneurs to keep regulating

35:27

and to keep government's hands of the Internet

35:31

can only be back to washington cartel had we restore power to the people

35:36

answer simple Americans across this country rise up they engage on the

35:43

issues

35:43

and we bring back the boys to the people booking ecclesiastics tells us there's

35:51

nothing new under the Sun

35:52

I think where we are today is very very much like

35:56

the late nineteen seventies I think the parallels between Jimmy Carter

36:00

and Barack Obama are uncanny same failed domestic policy

36:05

say misery stagnation in a lace same feckless and 94

36:11

Palace fact the very same countries Russia Iran

36:14

openly laughing and mocking the present United States

36:18

you know the one person America thrilled with the job

36:23

Barack Obama still is Jimmy Carter on is that analogy give me so much hope and

36:31

optimism because we know what happened

36:35

the late seventies in 1980 there was a grassroots movement

36:40

millions of men and women who rose up and became the reagan revolution

36:45

and it didn't come from washington

36:48

Washington despised ronald reagan

36:52

if you see a candidate who Washington embraces

36:56

run and hide

37:02

and in 1980 Reagan rose up to break

37:04

the Washington cartoon how did he do it

37:09

he changed the rules 1978 1979 reagan didn't get on a plane and fly to

37:16

Washington and sit down with the old bulls in congress sit down with

37:19

republicans say

37:20

come on guys we gotta stand for something he recognize that and now

37:24

their work listening to the American people

37:27

instead he took the case to the american people and it transform this nation how

37:34

do you change how do you break the Washington cartel you change the rules

37:38

you know there's an old joke that politics

37:41

is hollywood for ugly people

37:45

my wife says I resemble that remark

37:54

but there is nothing that focuses the mind

37:56

I'm elected politicians like the prospect that they might be voter data

38:01

office and have to finance chap

38:05

how do you break the Washington cartel you make the political price

38:09

are doing the wrong thing higher than the political price for doing the right

38:13

thing

38:14

and that can only come from we the people it's the only power

38:19

strong enough that's what the reagan revolution demonstrated

38:22

Washington despised reagan until the revolution swept in

38:26

and suddenly a bunch a politician said holy cow I ain't messin with that

38:30

and magically they supported lower taxes lower regulations and stopping the

38:35

favoritism

38:36

and standing up in defeating the servi I think 2016 will be an election like

38:43

nineteen eighty

38:44

as reagan's said we win by painting in bold colors

38:48

and not pale pastels I'm a close with the story we all know the story the

38:56

Wright brothers

38:57

but a name that we don't often hear is that its annual langley

39:02

the Department of war game in fifty thousand dollars

39:06

to create a flying machine upon its launch

39:11

it quote the hell like a time or

39:16

according to one report on December 17 1903

39:23

only nine days after langley second experiment failed

39:27

two young Ohio boys with only two thousand dollars

39:33

set out kittyhawk to become the first man to sail in the air

39:39

fifty thousand dollars on a failed government program

39:44

picking winners and losers persist to entrepreneurs two brothers

39:49

with a vision in a dream in just two thousand won a miserable failure the

39:55

other transfer the world

39:57

that is the power of American innovators

40:00

free from government it is the can

40:03

do spirit that has propelled scientist and entrepreneurs

40:07

immigrants who came to this nation with nothing pioneers and farmers

40:11

to make this land the greatest nation on earth

40:14

and it remains

40:18

just that if we come together and break the Washington cartel

40:22

that is telling us far too much about what we can do

40:26

in what we can't do and if we insist and return power to the people

40:30

so they can do what they've always done best:

40:33

achieve the unimaginable and leave a landscape of greater opportunities

40:40

for generations to come thank you

[category Ted Cruz, 2016 Presidential Election]

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