Where is the Money Going?
FBI and Secret Service Struggle with Outdated Computer Systems
In a story about ongoing computer problems at the Secret Service, ABC News remarked that the agency lagged behind the rest of the federal government, which had modernized its computer systems. On the contrary, the Secret Service is not alone, and,... read more
Special-Education Stimulus Funds Widely Used for Other Purposes
Funding for special education isn’t considered special by many school districts in New Jersey, which have redirected millions of dollars to other, general education programs. An investigation by the Asbury Park Press discovered school districts in... read more
Federal Auditors Stop Billion-Dollar Army Contract for Blackwater/Xe
Denied the chance to bid on a lucrative security contract to train Afghanistan’s new police force, DynCorp International managed to convince the Government Accountability Office to halt the company’s rival—Xe (formerly Blackwater)—from moving forw... read more
Millionaires on the Rise Again
Last year may have been bad for a lot of American families struggling to survive the bad economic times, but the wealthy had no trouble rebounding from the 2008 downturn and expanding their ranks.
A survey conducted by the Spectrem Group found... read more
Taxpayers Lose as Treasury Helps Midwest Banc Holdings
Deciding a big loss is better than a complete loss, the Department of the Treasury chose to buy shares of Midwest Banc Holdings at above market value in order to keep the ailing institution from sliding even further into trouble. The U.S. governme... read more
Record-Setting Number of Americans Pay No Income Tax
It used to be the only Americans not required to pay income taxes were the poor. But thanks to changes in federal law since the early 1990s, a growing number of the middle-class have had no income tax obligation—meaning they get everything back fr... read more
Fighter Jet Costs Jump 50%, Triggering Congressional Review and Lockheed Defense
The F-35 Joint Strike Fighter is getting too expensive for its own good. The combat aircraft was supposed to cost $50 million per plane to produce, according to the Department of Defense in 2001 when it said it planned to buy 2,852 of them. Now, t... read more
House Democrats Ban Earmarks to Corporations
Seeking to bolster Congress’ miserable public image, House Democrats have proposed banning earmarks—the allocation of federal dollars to specific projects or recipients without a public hearing—to private businesses. Democrats want to demonstrate ... read more
Taxpayers Footing the Bill for Breast Augmentations
The U.S. military keeps plastic surgeons on the payroll to help restore those soldiers badly wounded during their service. But in some cases the doctors are performing cosmetic surgeries and letting the government pay for it.
According to Star... read more
U.S. gave $107 Billion in Contracts to Companies Doing Business with Iran
Washington has not put its money where its mouth is when it comes to isolating Iran. Multiple presidential administrations have decried the policies of the Tehran government, especially its efforts to develop nuclear weapons, but the U.S. governme... read more
Homeland Security Not Following Rules in Awarding Contracts
Even when awarding contracts to companies without competitive bidding, federal agencies are supposed to follow certain rules and guidelines. But that has not been the case at the Department of Homeland Security (DHS), which gave out $3.4 billion i... read more
Federal Reserve Proposes Protecting Credit Card Users from Excessive Fees and Penalties
In compliance with the reform legislation adopted last year by Congress, the Federal Reserve board is proposing new rules to limit credit card issuers from unloading “unreasonable” late payments on consumers and hiking interest rates. Fed official... read more
IRS Holding $1.3 Billion in Unclaimed Refunds
More than one million taxpayers did not file returns with the IRS in 2006, leaving the government sitting on more than $1.3 billion worth of possible refunds. Americans who did not file four years ago can still send in their returns, but they must... read more
Cost of Foodborne Illnesses Estimated at $152 Billion a Year
Food poisoning is not taken seriously enough in the United States, contends the Produce Safety Project, an initiative of the Pew Charitable Trusts.
Some studies, such as those produced by the U.S. Department of Agriculture (USDA), have pegge... read more
Pentagon Fines KBR…Then Gives it a $2.8 Billion Contract
Accused of performing faulty electrical work that may have led to the deaths of American soldiers, defense contractor KBR should have no trouble making up for the $25 million it lost after the Department of Defense decided to withhold payment on c... read more
Exotic Bank Loans Strip States and Cities of Tens of Billions of Dollars
In need of extra revenue before the Great Recession hit, local governments last decade turned to banks offering interest rate swaps—described by activist Mike Elk as “the equivalent of a payday loan” for consumers short on cash—which only left cit... read more