Feds "lose" 1.8 Trillion of our Money

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But, hey! These compentant folks have fixed Y2K!!


********************************************************************************** cnnfn.com/hotstories/washun/9903/31/gao/

Washington loses $1.8 trillion

Congressional audit finds government can't account for how it spent money

March 31, 1999: 1:23 p.m. ET

WASHINGTON (CNN) -- The federal government can't account for how it spent more than $1.8 trillion in fiscal year 1998, according to a government audit released Wednesday by a Congressional committee.

"Once again, billions of taxpayer dollars were lost to waste, fraud and mismanagement," said Rep. Stephen Horn, R-Calif., chairman of the House Government Reform and Oversight subcommittee on government management, information and technology.

Of the 24 largest federal agencies, 17 submitted the required report. Five of those received a failing grade and six received "D"s for their handling of taxpayer dollars. Only two agencies got "A"s -- NASA and the National Science Foundation. Seven agencies still have not submitted a report at all.

The General Accounting Office prepared the audit for Rep. Horn's committee under requirement of the Government Management Reform Act of 1994.

-- Roland (nottelling@nowhere.com), March 31, 1999


Maybe they're stockpiling toilet paper? LOL

-- Tim (pixmo@pixelquest.com), March 31, 1999.

1.8 trillion? The number is obviously way wrong - that happens to match pretty well with the total budget figure. They don't know where any of it went? - hardly. Get a little more skepticism in your life - it will do you good.

-- Paul Davis (davisp1953@yahoo.com), March 31, 1999.

Seeing that the Pentagon paid what...70 bucks (?) for a hammer, this wouldn't surprize me.

-- Jenny (noSnart@GI.com), March 31, 1999.

Get a little more skepticism in your life - it will do you good. -- Paul Davis (davisp1953@yahoo.com), March 31, 1999.

Surely this was an imposter and not Paulyanna Davis?

-- none (none@none.none), March 31, 1999.

The number is right, the title of the piece is just misleading...sort of like the typical Y2k headline. They simply can't account for large parts of the expenditures in a $1.8 trillion budget.

Of course, this should in no way reflect upon the gov's competence in remediating its information technology infrastructure, coordinating and directing contingencies, or suffusing the public with pertinent, accurate, and timely y2k status information.

-- Nathan (nospam@all.com), March 31, 1999.

Nathan -

Ya forgot the smiley. 8-}]

-- Mac (sneak@lurk.com), March 31, 1999.

Wonder if they'll ever be "accountable," or take on that level of responsibility.



-- Diane J. Squire (sacredspaces@yahoo.com), March 31, 1999.

Yes, smiley of course, sarcasm comes so naturally these days. :oD

-- Nathan (nospam@all.com), March 31, 1999.

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