Feds rush to spend 20% of $500 billion in one month in ‘use it or lose it’ spending spree
(Worthy News) – Federal agencies have shelled out tens of millions of dollars on cars, movie cameras and other items in a contract spending spree that happens across government at the end of every fiscal year.
All told, roughly 20% of the $500 billion in government spending each year on disclosed contracts is in the fiscal year’s last month, according to watchdog groups.
It’s past time for some end-of-year fiscal restraint, said Sen. Joni Ernst, Iowa Republican. While debt hawks say they can end the “spend it while you have it” mentality with a simple legislative fix, nothing is simple in Washington. [ Source: Washington Times (Read More…) ]
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