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Tax and Spend Liberals? Mr. C doesn’t think so…

June 29, 2007

The next time that you hear one of your “less informed friends” say that if the Democratic party regains the White House in 2008 they will “tax and spend” the country until it is bankrupt, you may want to point out the latest report on King Georges spending habits.Feed The Rich!

Henry A. Waxman released a study of federal government spending that points out that the Bushtard cabal has spent more money on outsourced contracts than any other presidency in the history of the US.

Below is the introduction from Waxman’s web site with links to the full report. Bold highlights are by Mr. C.

Introduction

Last year, Rep. Henry A. Waxman released the first comprehensive assessment of government contracting under the Bush Administration. The report, entitled Dollars, Not Sense: Government Contracting Under the Bush Administration, found that between 2000 and 2005, federal procurement spending rose by over 80%, no-bid and other contracts awarded without full and open competition increased by over 100%, and contract mismanagement led to rising waste, fraud, and abuse in federal procurement.

This new report finds that the worrisome trends identified last year have worsened significantly. For the first time, (1) annual federal procurement spending crossed the $400 billion threshold, (2) more than half of this spending — over $200 billion in new contracts — was awarded without full and open competition, and (3) the total value of wasteful federal contracts now exceeds $1 trillion.

Procurement Spending Continues to Grow Rapidly

Last year’s report found that procurement spending had risen from $203.1 billion in 2000 to $377.5 in 2005. This year’s report finds that procurement spending increased to $412.1 billion in 2006, a new record. Contract spending has now more than doubled since President Bush took office. At the Department of Homeland Security, procurement spending increased by 51% last year alone. Since 2000, spending on federal contracts has grown more than twice as fast as other discretionary federal spending. For the first time, the federal government now spends over 40 cents of every discretionary dollar on contracts with private companies.

The Award of Noncompetitive Contracts Is Accelerating Dangerously

Last year’s report found that no-bid contracts and other forms of contracts awarded without full and open competition had risen from $67.5 billion in 2000 to $145.1 billion in 2005. This year’s report finds that spending on these no-bid and limited-competition contracts surged over $60 billion to $206.9 billion in 2006, the largest single-year increase ever. The value of federal contracts awarded without full and open competition has more than tripled since 2000. For the first time on record, more than half of federal procurement spending was awarded through no-bid and limited-competition contracts in 2006.

Waste, Fraud, and Abuse Continue to Soar

Last year’s report identified 118 contracts valued at $745.5 billion that had been found by government auditors to involve significant waste, fraud, abuse, or mismanagement. This year’s report identifies 189 contracts valued at $1.1 trillion that have been plagued by waste, fraud, abuse, or mismanagement. In the case of each of these 187 contracts, reports from the Government Accountability Office, the Defense Contract Audit Agency, agency inspectors general, or other independent federal oversight officials have documented significant overcharges, wasteful spending, or mismanagement over the last six years.

Link to the full 2007 Report:

MORE DOLLARS, LESS SENSE:
WORSENING CONTRACTING TRENDS
UNDER THE BUSH ADMINISTRATION

Link to the full 2006 Report:

Dollars, Not Sense:Government Contracting Under The Bush Administration.

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