Iraq, a Taxpayer's Blackhole?

Forever settled in heaven · Jul 29, 2006

this report shd be disturbing to some, who've put their trust in people who claimed that the invasion of Iraq was to uncover WMDs ... one wonders if there r any other skeletons in the closet, expensive ones, that is.

July 30, 2006
Audit Finds U.S. Hid Actual Cost of Iraq Projects

By JAMES GLANZ
BAGHDAD, Iraq, July 29 — The State Department agency in charge of $1.4 billion in reconstruction money in Iraq used an accounting shell game to hide ballooning cost overruns on its projects there and knowingly withheld information on schedule delays from Congress, a federal audit released late Friday has found.
The agency hid construction overruns by listing them as overhead or administrative costs, according to the audit, written by the Special Inspector General for Iraq Reconstruction, an independent office that reports to Congress and the Pentagon.
Called the United States Agency for International Development, or A.I.D., the agency administers foreign aid projects around the world. It has been working in Iraq on reconstruction since shortly after the 2003 invasion.
The report by the inspector general’s office does not give a full accounting of all projects financed by the agency’s $1.4 billion budget, but cites several examples.
Click to expand...

check the rest of the Enron-flavoured accounting at http://www.nytimes.com/2006/07/30/w...&ex=1154836800&partner=MYWAY&pagewanted=print

LeBuick · Jul 29, 2006

Forever settled in heaven said:

this report shd be disturbing to some, who've put their trust in people who claimed that the invasion of Iraq was to uncover WMDs ... one wonders if there r any other skeletons in the closet, expensive ones, that is.

check the rest of the Enron-flavoured accounting at http://www.nytimes.com/2006/07/30/w...&ex=1154836800&partner=MYWAY&pagewanted=print
Click to expand...

I don't know, looks like business as usual to me...

KenH · Jul 29, 2006

This story is no surprise.

The government lies to us by understating the size of the federal budget deficit in their announcements to the public. They keep using the Social Security surplus to cover up a significant portion of the yearly deficit.

Iraq, a Taxpayer's Blackhole?

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Iraq, a Taxpayer's Blackhole?

Forever settled in heaven New Member

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