December 2, 2010
Limbaugh botches Bristol "bailout"
Of course, anyone who knows Bristol understands that the charge is ludicrous. Bristol doesn't have anything to bail out with billions. Millions maybe, but billions? Never.
What happened is that Limbaugh relied on a badly written news story somewhere that lumped Bristol in with those who got bailouts because its pension fund had invested some money in a program to help kick start the economy back when credit had dried up.
The investment in a tiny way helped get the economy moving again during the worst days of the recession and wound up making a profit.
But it was peanuts in the scheme of things.
T.J. Barnes, the city GOP chair and pension guru, said that Bristol didn't get a single dollar in bailout money.
Barnes said that Limbaugh, who apparently repeated his charge a few times during his three hour show, was simply wrong.
He said he tried to call in to let the guy know, but couldn't get through.
I don't even want to begin trying to explain the financial ins and outs of what the pension fund did. Just know that it made a little money and is still among the nation's best funded plans.
So, Rush, if you're seeing this... you should check the facts. You blew it, big guy.
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