A little over a year and a half ago, Terry McAuliffe decided to show off his business acumen. As transcribed by Jim Geraghty [1] (emphasis in original):
I’m proud to always say of all my businesses and the one I’m doing now with the auto, I do it all with private capital. I use my own money and investor money, I just don’t want the government in my business.
Something about that statement struck Geraghty as…odd:
Strangely enough, that’s the exact month that McAuliffe’s company, GreenTech Automotive, accepted a $3 million loan from the Mississippi Development Authority, acting on behalf of the state of Mississippi. The contract can be found here [2]. Separately, the MDA loaned another $2 million [3] to Tunica County to purchase the site for the factory.
So, to recap, McAuliffe uses his own money, investor money, and $5 million in Mississippi taxpayers’ money, which he now defines as “private capital.”
What does he consider the $40 billion-plus that Virginia taxpayers send to Richmond annually? Do we really want to find out?
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