Friday, June 23, 2006

The Republican Business Model

What is there to say about this other than what the story itself says?
A new report claims that a "shadow government" of federal contractors has exploded in size over the last five years.

[P]rocurement spending increased by over $175 billion between 2000 and 2005, making federal contracts the fastest growing component of federal discretionary spending.

That spending increase -- an astonishing 86 percent -- puts total US federal procurement at $377.5 billion annually. The increase means spending on federal contracts has grown more than two times as fast as other forms of discretionary government spending.

The report identifies 118 federal contracts worth $745.5 billion that have been found by government officials to include significant waste, fraud, abuse or mismanagement.

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.
Well, you can't argue with Bush. He has been good for business.

3 Comments:

Blogger Kel said...

And Cheney's association with Haliburton has nothing to do with why they have been awarded these no contest contracts.

It's my bad mindedness that keeps making me think this. I must remember that!

8:15 AM  
Blogger theBhc said...

Me, too. Halliburton is fine and it is my own cynicism that keeps me from appreciating how much they have deserved all those new contracts.

10:59 AM  
Blogger Musclemouth said...

Halliburton is a wonderful institution. How dare we question their motives *cough* death camps in the making *cough*

12:43 PM  

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