Two blog entries from the Cato Institute give insight into how money spent by the government will, of course, be wasted. Everyone claims to be opposed to waste, fraud, and abuse, and everyone claims to be working on initiatives to prevent that terrible triad. Nonetheless, it continues to occur.
The COVID epidemic has resulted in $6 trillion in increased government spending, and waste, fraud, and abuse abound. A story in The Washington Post recalls incidents of people utilizing COVID relief monies to buy fancy automobiles, faking tax paperwork to gain additional money, and obtaining payments through fictitious firms. According to watchdogs, they have received over 845,000 aid applications that are now suspected of being made by people using stolen identities.
Moreover, “all of this occurred despite substantial money for inspectors general to supervise the projects,” he said. In 2009, President Obama informed President Biden that he would oversee the stimulus bill’s expenditures.
Nonferrous metals (for example, copper), plastic and polymer-based goods, glass, composite construction materials, timber, and drywall are among them. Therefore, the infrastructure bill promised a generational investment in much-needed projects. Reality will be revealed once contractors bring their goods for bureaucratic approval. Grabow cites letters from telecommunications and water providers informing the Biden Administration that they cannot complete projects under best practices while fulfilling stringent content criteria. Due to the domestic-content rules, the Administration’s desired electric-vehicle charging stations will likewise have a difficult time getting developed.
“Is this how America rebuilds itself better?” wonders Grabow. Waivers were required to be approved by an office inside the White House Office of Management and Budget. The government faces no repercussions for squandering money. It frequently spends money on purpose to appease special interest groups. Members of Congress are aware that “Buy America” mandates waste money, but they are also aware of which firms gain from them.