It's A Racket
February 28, 2011 1:30 PM Subscribe
posted by The Emperor of Ice Cream (47 comments total)
12 users marked this as a favorite
The U.S. governmental Commission on Wartime Contracting held hearings today
regarding the corruption, mismanagement, massive financial waste and lack of oversight among private defense contractors in Iraq and Afghanistan.
According to the commission's recent findings (more here
), "misspent dollars run into the tens of billions" out of the nearly $200 billion spent on contracts and grants since 2002
[quote from second FPP link].
And according to testimony today by Scott Amey, general counsel for the nonprofit watchdog group Project on Government Oversight (POGO), contract award dollars have increased from approximately $200 billion in fiscal year 2000 to over $535 billion in fiscal year 2010,
while the failure to enforce accountability has resulted in the contracting version of "too big to fail."
More from the second [HuffPo] link:
The commission's findings...are just the latest in a litany of official and journalistic reports about the enormous cost of waste, fraud and corruption in Iraq and, particularly, Afghanistan. Just last month, the Special Inspector General for Afghanistan Reconstruction warned that the entire $11.4 billion for constructing and maintaining nearly 900 Afghan National Security Forces facilities is at risk due to inadequate planning.The Special Inspector General for Iraq Reconstruction said in 2009 that an estimated $3 billion to $5 billion in U.S.-funded infrastructure contracting had been wasted there.