SHOCK.  WHITE HOUSE CAUGHT IN FIB – AT 10:30 A.M. ET:  It is so upsetting when we learn that our political leaders shade the truth.  Who knew?  Especially in the age of Obama we expect purity, goodness, and full transparency.  This must've been a misunderstanding.  From the Seattle Times: 

The claim: A White House fact sheet released Wednesday to coincide with the state visit of Chinese President Hu Jintao said: "In preparation for this visit, several large purchases have been approved including for 200 Boeing airplanes. ... The approval, the final step in a $19 billion package of aircraft, will help Boeing maintain and expand its market share in the world's fastest growing commercial aircraft market."

What we found:

The deal President Hu signed does not include any new jet orders.

Delivering the formal approval during Hu's visit is designed to make the Chinese government appear responsive to U.S. concerns about the balance of trade.

However, all of the airplanes in the sale were announced and booked by Boeing as firm orders over the past four years. Chinese airlines had already paid nonrefundable deposits and signed contracts for the jets, most of them as far back as 2007.

"The only thing new is (Chinese) government approval," said Boeing spokesman Miles Kotay.

Technically, the White House statement is generally correct, but it is one of those cases where the facts are true, and the story is false.  Clearly, the intent was to give the impression that this was a new order, the result of the Obama-Hu summit.  Besides...

The White House announcement said the total value of the orders was $19 billion.

But that's the list price, which airline customers never pay.

Based on market data from aircraft-valuation consultancy Avitas, the actual price for those 200 planes is about $11 billion.

Oh, come on.  What's a measly $8-billion? 

COMMENT:  The Obama propaganda ministry in action again.

January 21, 2011