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Report: Wasteful Government Spending at All-Time High
Key Excerpts from Article on Website of ABC
Posted: July 6th, 2007
http://blogs.abcnews.com/theblotter/2007/06/report-wasteful....
The U.S. government has committed to spend a record-high $1.1 trillion with companies holding government contracts "plagued by waste, fraud, abuse or mismanagement," according to a new report by the House Oversight and Government Reform Committee. The report blames the rise in bad spending on a sharp increase in noncompetitive contracting and a general increase in the use of private companies to perform government functions. More than $200 billion in taxpayer money was spent on projects for which only one or a handful of companies submitted bids, the committee found. That figure has more than tripled since 2000, according to the report, and now comprises more than half of all government spending outside of entitlement programs like Medicare, Medicaid and Social Security. "The numbers -- there's not an iota of justification for more than half of all contracts being no- or limited-bid contracts," said Keith Ashdown of Taxpayers for Common Sense, a non-partisan Washington, D.C.-based group which scrutinizes federal spending. According to the report, the committee based its findings on a federal database of government spending, and more than 700 reports by government auditing and investigations offices.
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