VOICE: The Glenn Beck program presents more truth behind America’s march to socialism.

GLENN: Opponents of the cap and trade plan ran into a little speed bump recently when their claim that cap and trade would cost the consumer about $3100 a year in increased energy prices was disputed by one of the math geniuses at MIT. This is one of the things remember, they will say, "This cap and trade, it’s not going to make that big of a deal." And you’re going to save all of this money. Really? The GOP used numbers from the study that said cap and trade would raise $366 billion in revenue annually. In other words, $366 billion in new taxes. You divide that figure by 117 million households in America and you get the $3100 figure. "Well, you’ve got a guy…" MIT is involved. You just don’t $3100, what are you talking about? John Reilly, the MIT professor who was part of the study said the claim was "Just wrong. It’s wrong in so many ways it’s hard to begin." Reilly said it would only cost households $215 annually. Okay, that’s not so bad. $215 for the whole household for a whole year? People won’t even notice that. The bloggers and the reporters couldn’t wait to hammer the GOP on this one and the one, the only Keith Olbermann, in Shakespearian tones, said this.

MSNBC’s Keith Olbermannn

OLBERMANN: House minority leader John Boehner of Ohio. We assume when it comes to politicians and math, there’s going to be some lying. But lying to the tune of 140 times the truth? Boehner’s criticism of the Obama proposals on cap and trade, making energy in this country as green as possible includes this statement: Anyone who has the audacity to flip on a light switch will be forced to pay higher energy bills thanks to this new tax increase which will cost every American family up to $3100 per year in higher energy prices. Well, that’s true if your family is a large one, say 101 people. Boehner has taken a research study two years at MIT on the effective cap and trade on energy prices and he’s lied about it. The number in the study was not up to $3100 per family. It was up to $31 per person. And even that would not kick in until 2015. So the average additional cost per family six years from now would be 79 bucks, minus however much foreign gas prices would drop based on decreased demand and minus the lowered healthcare because of the cleaner atmosphere. 31 bucks, 3100 bucks, it’s all the same to congressman John the math leads Boehner, today’s worst person in the world.

GLENN: That is such a clever bit. I wish I would have thought of that person. So here’s Keith Olbermann saying worst person in the world, John Boehner. The media had their field day. Then after several e mail exchanges with the Weekly Standard, this comes out: MIT professor John Reilly wait a minute. He’s the guy who said it’s wrong in so many different ways, it’s hard to begin. John Reilly admitted that his original estimate of cap and trades cost was inaccurate. The annual cost would be $800 per household. Quote: I made a boneheaded mistake in an Excel spreadsheet. I have sent a new letter to the Republicans correcting my error and others. "Okay, but still, $800 is way higher than $250 but it’s still way less than $3100 that the GOP came up with." Yes, but the figure that Reilly came up with, according to him, is the cost of greening your lifestyle. So in other words, if you buy green insulation or a couch made of hemp, invest in a solar roller or whatever, the number of just the cost to the economy, that money just disappears. The problem is that Reilly is still lowballing the cost because he assumes that the $3100 of extra taxes on energy producers per household, which obviously they will pass on the cost to the consumer and he’s admitted that, will be returned to each household. Without that assumption, Reilly writes, "The cost then would be the Republican estimate $3,128 plus the cost I estimate of $800." So in other words, if these companies don’t pass their costs on to you, then it’s only going to be $800. But if these companies raise their prices because they’re now having to pay for higher energy costs, it will be you ready? $4,000. Keith Olbermann was right! The Republicans were wrong again! Because they said $3100. Now according to the MIT scholar that Keith Olbermann was just quoting and basing it on, it is now $4,000. "But they’ll just send the money back." Mmm hmmm, right. His theory is, well, they will just use that money for programs that people will use. Obama’s own Office of Management and Budget is predicting trillion dollar deficits for the next decade. Democrats are already openly salivating on how they can spend the cap and trade money. Democrats think they are saving the world by jacking up energy prices. This is a $300 billion annual cash cow for Washington. That’s it. If you think they’re going to turn around and give that money back to you, you are sadly mistaken. Remember, the politicians in Washington promised that the income tax would never go over 1%, never go over 1%. Look up the congressional records. They swore these progressives it would be insane and the people would rise up if we ever broke the insane percentage of 5% income tax. And by the way, they were only talking about the wealthiest of the wealthy. Congratulations. You’ve just witnessed the fusion of socialism and Microsoft Excel. And congratulations to the progressives and Keith Olbermann on becoming the worst person in the world!

VOICE: That was even more overwhelming evidence that we are destined to be a bunch of socialist pigs very, very soon on the Glenn Beck program.