June 27, 2007

Waste in Federal Contracts Now More Than $1 Trillion

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Last year California Rep. Henry Waxman released an in-depth report on government-contract spending under the Bush Administration. It 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 more than 100%.
  • Contract mismanagement led to rising waste, fraud, and abuse in federal contracting.
    •

    Today Waxman released this year’s analysis, which shows that what was already bad has actually gotten much worse.

  • For the first time EVER the federal government has passed $400 billion threshold in contracts for the year.
  • More than half of this spending — more than $200 billion in new contracts — was awarded without full and open competition.
  • The total value of wasteful federal contracts now exceeds $1 trillion.
    •

    Get the full rundown, and have a look at specific contracts, here.

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    DEMOCRACY DOES NOT EXIST...

    without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

    In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

    If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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