Wednesday, August 19, 2009

Don't Let The Truth Get In The Way

Snowbilly is at it again. First the lady goes nutso with her "death panel" lies, working the nation into a tizzy that grandma and Trig are headed for Soylent Green. Now she lathers it on with more lies.

The U.S Export Import Bank is considering a 2 billion dollar loan to the Brazilian Petrobras oil company to do more exploration of the coast of Brazil.

Palin said,

"the Obama White House is prepared to send more than 2 billion of your hard-earned tax dollars to Brazil so that the nation's state-owned oil company, Petrobras, can drill offshore and create jobs developing its own resources" and that Obama "chooses to use American dollars in Brazil that will help to pay the salaries and benefits for Brazilians to drill for resources when the need and desire is great in America."

Of course she's lying again. The bank doesn't use tax dollars from us. It's capitalized with it's own earnings. Secondly, the Export Import Bank's charter requires that any loan it approves must be used to buy American goods and services. The money will create American jobs. It is going to do exactly the opposite of what Caribou Barbie says it will do.

From Politico:

A spokesman for the bank, Phil Cogan, noted to POLITICO that the bank does not rely on tax money and that Palin's statement ignores the bank's central function: To lend money to foreign companies for the purchase of American goods and services.

"It has to be produced by U.S. workers," Cogan said. Palin's statement refers to "creat[ing] jobs and health benefits in the U.S."

"That's exactly what a purchase financed by the U.S. government would do," Cogan said.

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