Tuesday, June 20, 2006

Redistribution of Wealth, Pt. XCVIII 

Via Zemblan patriot K.Z.: What ho! Study the following list and see if you can pick the largest federal expenditure: Rep. Henry Waxman (D-CA) has the answer:
[P]rocurement spending increased by over $175 billion between 2000 and 2005, making federal contracts the fastest growing component of federal discretionary spending . . . .

Each of the Bush Administration's three signature initiatives -- Homeland Security, the Iraq war and reconstruction in Iraq and Hurricane Katrina recovery -- has been linked to wasteful contract spending.

Spending is categorized in the report as highly concentrated on a few large contractors, with the five largest contractors receiving over 20 percent of contract dollars awarded in 2005. Last year, the largest federal contractor, Lockheed Martin, received contracts worth more than the total combined budgets of the Department of Commerce, the Department of the Interior, the Small Business Administration and the U.S. Congress.

But the fastest growing contractor under the Bush Administration has been Halliburton. Federal spending on Halliburton contracts shot up an astonishing 600% between 2000 and 2005.
Elsewhere, by some crazy coincidence . . . .
In a vote of 52-44, the Senate today rejected an amendment that would have created "a special committee of the Senate to investigate the awarding and carrying out of contracts to conduct activities in Afghanistan and Iraq and to fight the war on terrorism."

| | Technorati Links | to Del.icio.us