Government Spending at All-Time High
Monday, July 02, 2007 - FreeMarketNews.com
A new report by the House Oversight and Government Reform Committee released this week shows the U.S. government is committed to spend $1.1 trillion with companies holding government contracts, according to ABC News.The report describes these contract holders as "plagued by waste, fraud, abuse, or mismanagement." Blame is placed squarely on increased use of private companies to perform government functions and a steep increase in noncompetitive bidding. In just one example, the Department of Homeland Security entered into a $2 million contract with Booz Allen Hamilton in 2003, according to The Washington Post. By December 2004, payments to the firm had exceeded $30 million. The total eventually increased to $124 million. Staff Reports - Free-Market News Network
A new report by the House Oversight and Government Reform Committee released this week shows the U.S. government is committed to spend $1.1 trillion with companies holding government contracts, according to ABC News.The report describes these contract holders as "plagued by waste, fraud, abuse, or mismanagement." Blame is placed squarely on increased use of private companies to perform government functions and a steep increase in noncompetitive bidding. In just one example, the Department of Homeland Security entered into a $2 million contract with Booz Allen Hamilton in 2003, according to The Washington Post. By December 2004, payments to the firm had exceeded $30 million. The total eventually increased to $124 million. Staff Reports - Free-Market News Network
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