Wednesday, June 27, 2007

Federal procurement spending soars under Bush

From The Hill:

Federal procurement spending soared to $412.1 billion in 2006, setting a new record in government contracting, according to a report released by the chairman of the House Committee on Oversight and Government Reform.

Rep. Henry Waxman’s (D-Calif.) assessment, released Wednesday and entitled “More Dollars, Less Sense,” said more than half the procurement spending was allotted to contracts not subject to full and open competition...

The new study calls attention to a 51 percent increase in procurement spending from 2005 to 2006 in the Department of Homeland Security. For the first time, 40 cents of every discretionary dollar spent by the federal government has gone to a contract with a private company.

2006 saw the largest single-year climb in no-bid and limited-competition contracts ever, from $145.1 billion in 2005 to $206.9 billion. Under Bush, federal spending has risen 48 percent, according to the report.

Halliburton, of course, is one of the six top beneficiaries. But what strikes me most about this report is how you have a Republican administration that talks up fiscal responsibility and conservatism but both breaks federal spending records and supports a policy that either limits or bans free market competition. What kind of hypocrisy is that?

UPDATE: More hypocrisy! After his tough talk on earmarks, it turns out Bush requested 93 of the 321 earmarks in legislation funding the Department of the Interior.

1 comment:

Xanthippas said...

The inevitable least under Republicans.