How the castro regime will screw the U.S. taxpayer

Under current U.S. policy, Cuba must pay cash up-front for all U.S. goods it purchases (and it purchased more than $600 million last year despite the “embargo”).

If the embargo is removed then the following will become very relevant:

The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank’s mission is to assist in financing the export of U.S. goods and services to international markets.

Ex-Im Bank enables U.S. companies — large and small — to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.

Ex-Im Bank does not compete with private sector lenders but provides export financing products that fill gaps in trade financing. We assume credit and country risks that the private sector is unable or unwilling to accept. We also help to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters.

Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing). No transaction is too large or too small. On average, 85% of our transactions directly benefit U.S. small businesses.

With more than 70 years of experience, Ex-Im Bank has supported more than $400 billion of U.S. exports, primarily to developing markets worldwide.

Translation: The U.S. government will finance the castro regime’s post embargo spending spree.

Any guesses on how much taxpayer money will end up paying deadbeat castro’s bills before anyone notices?

H/T: Luis Gonzalez

6 thoughts on “How the castro regime will screw the U.S. taxpayer”

  1. If we sold $600 million to Cuba last year, I expect a WHOLE lotta spending! Everyone’s going to want a hand at Cuba, so expect double the amount.

  2. Luis,

    I don’t really understand the question. The U.S. through private oil companies buys all the Venezuelan oil that it wants to buy at market prices. Our government doesn’t buy oil. Besides the people who got Obama elected don’t want anything to do with oil, much less its increased usage in America.

  3. An agreement where Venezuela increases production and drops the PPB has those oil companies shifting business from point A to point B, not necessarily increasing comsumption.

    And Obama gets to work with two Socialists regimes: the Castro brothers, and Chavez in deterring petrol dollars away from Islamofascism, and into the willing pockets of fellow travelers.

  4. The price per barrel is not a problem right now. And besides libs like obama don’t want cheap oil. They want expensive oil. Besides we already get much of our petroleum from Venezuela. And though oil is technically a fungible commodity, there are different refining processes depending on the source of the crude. Venezuelan crude is high in sulfur and other minerals and requires special refining capability. In other words a spurt in the amount of Venezuelan crude we receive will end up bottlenecked at the refining step. And Cubazuela is already in bed with those islamofascists.

  5. “Ex-Im Bank does not compete with private sector lenders but provides export financing products that fill gaps in trade financing.”


    In an earlier life, and for 10 years with Dun & Bradstreet, I SOLD the private sector version of the EX-Im service.

    Sadly, my employers relied on profits for operating capital. They actually evaluated the risk and charged accordingly. My competitors extorted their operating capital from U.S. citizens with a threat of jail. The skunk who sold Ex-Im policies simply followed me around, snickering, and made another quote Naturally miniscule, compared to mine).

    It was hopeless. All salesmen like the rough and tumble of competition, but you talk about a handicap! No matter how old the brandy, no matter how skillful and conscientious the lap-dancer, I usually lost the deal. The Ex-Im charged peanuts for premiums and covered the most outrageous risks in the most kleptocratic countries. You and I make good on the billions in claims. Their spokespersons claim that the Ex-Im doesn’t compete with private insurance. BULLSHIT!! I saw it point-blank almost daily repeatedly.

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