It wouldn’t be an election year if we went a week without political rumors, and the Telegraph released a doozie on Sunday: allegedly Michelle Obama spent $50,000 on a lingerie shopping spree at Agent Provocateur. But try to contain your outrage and/or jealousy: let’s look at Gawker’s math on the topic first. So did the first lady spend like a member of the 1%? Find out after the cut!

When it comes to expensive underthings, Agent Provocateur is the place to go. Go to any page on the site and you’ll probably see a $190 bra. So perhaps it would be easy to drop 50 grand on bustiers and whatnot? Not according to Gawker, who shows that even the most seasoned shopper would have to buy almost every piece of undergarments on the site to come close to that mark:

45 bras $7,180

83 “knickers” $11,260

35 suspenders, waspies and garters $6,320

13 corsets, basques and playsuits $7,270

17 kimonos, gowns and slips $17,090

And even that (every available piece of lingerie in the store) only runs you to a total of $49,120. It’s okay; toss in a couple accessories — these $710 crystal cuffs, say, and the $660 leather whip — and you’re bumped right up to an extremely erotic $50,490. [via Gawker]

The White House is (naturally) denying the original story, and there isn’t even a source for it. My biggest reason for disbelieving the rumor, however, is that even I couldn’t spend that much on lingerie if I tried. And I have an irrational, bank-breaking love of the stuff.

What do you think of the rumor? Could you spend that much on lingerie?