Pelosi: Gov't Saved $26.8 Billion by Spending $82 Billion

If you gave this headline a double take, you gave it twice the thought as out-going Speaker of the House Nancy Pelosi did.  According to the House Minority Leader-elect, the United States' government bailout of car companies saved our nation "1.5 million American jobs" and "prevented a $26.8 billion loss to the American taxpayer."

You can read all about it on Pelosi's blog "The Gavel."  With someone like Pelosi, one would expect that she would leave out the fact that the United States spent over three times $26.8 Billion to bailout companies like GM.  However, she does not, referencing the $82 Billion just two paragraphs later.

Here is a short excerpt showing the ridiculousness of Pelosi's writings:

"Government action supporting the auto industry prevented a $26.8 billion loss to the American taxpayer and saved nearly 1.5 million American jobs...The loss would have been caused by increased public welfare payments and lost tax receipts from workers had the government not provided $82 billion of assistance to the industry."

Pelosi does not explain how exactly the United States saved $26.8 Billion while spending over $50 Billion more just to bailout auto companies.

Pelosi

The Gavel extensively quotes an article that appeared on Bloomberg.com, trying to pretend that she's not saying this.  But it is obvious that Pelosi is trying to push this ridiculousness as, one, the truth, and two, is trying to say that she saved the American taxpayer billions of dollars.

This is very similar to the President's and Senate Majority Leader Harry Reid's claims that the Stimulus saved $282 Billion.  According to them, the $787,000,000,000 price tag on the Stimulus saved Americans $282,000,000,000.  Once again, they never explain how you can save money by spending three times as much.

This is just another example of Democrats arguing that spending a tremendous amount of money is somehow saving money.  Obviously the drubbing they received earlier in the month didn't teach them anything about fiscal responsibility or about not lying to the American people.

She really thinks that she can get away with lying to the American people.  Well, I think she is wrong.


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