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RHETORIC: BECK SAID VANCOUVER LOST $1 BILLION WHEN IT "HAD THE OLYMPICS." Glenn Beck said, "Vancouver lost, how much was it? they lost a billion dollars when they had the Olympics." [Transcript, Glenn Beck Show, 9/29/09]
REALITY: VANCOUVER'S OLYMPICS WILL NOT TAKE PLACE UNTIL 2010. Vancouver will host the 2010 Olympic and Paralympic Games from February 12 — 28, 2010 and March 12-21, 2010, respectively. [Vancouver2010.com, accessed 9/29/09]
Slightly more about reality for the purpose of slightly raising the discourse: the Vancouver committee's current deficit is approximately $40m, and is partially being covered by shifting new hires to the city of Vancouver, and has been promised a partial IOC bailout; security (four times initial estimates right now) was already on the hook of the taxpayer.
And - wait for it - the developers of the Olympic village had to be bailed out.