U.S. Government Wastes Up to $100 Billion - Report
here is the link.
WASHINGTON (Reuters) - U.S. taxpayers could save $85 billion to $100 billion over a decade if Congress truly comes to grips with wasteful spending in government programs, House of Representatives Republicans said on Thursday.
The new estimate by the House Budget Committee was based on reports submitted by the congressional panels that oversee federal programs ranging from farm aid to veterans' benefits, student loans and Medicare health insurance for the elderly.
It represents the latest effort by Budget Committee Chairman Jim Nussle, an Iowa Republican, to convince lawmakers -- including skeptics in his own party -- that big savings can be wrung out of the politically popular benefits.
"There's still an outrageous amount of waste in the federal government," Nussle said. "It's pretty clear we have barely scratched the surface."
Nussle initially sought to mandate over $130 billion in cuts to the programs as part of the 2004 Republican budget. But he was forced to back off when moderates in his party revolted against the plan, which came at the same time Congress was approving President Bush (news - web sites)'s big new tax cuts.
In the end, lawmakers were simply required to try to find examples of "waste, fraud and abuse" in federal programs that could then be tackled at a later date. Congress has regularly vowed to overhaul government programs in the past, but rarely mustered the political will to actually follow through.
"It's a heck of a lot of work, and there isn't a lot of political payoff in weeding the garden," Nussle acknowledged.
Even so, Republicans are keen to show they are targeting federal spending at a time when budget deficits are rising to record levels and the cost of the Iraq (news - web sites) war is becoming clear.
Democrats said they supported the aims of the effort, but cautioned that cuts on the scale that Republicans originally sought could not be achieved without also slashing services.
"Simply put, the submissions do not appear to have achieved the stated goal, that of identifying legislative changes that would produce $132 billion in savings," said Rep. John Spratt of South Carolina, the Budget Committee's top Democrat.
here is the link.
WASHINGTON (Reuters) - U.S. taxpayers could save $85 billion to $100 billion over a decade if Congress truly comes to grips with wasteful spending in government programs, House of Representatives Republicans said on Thursday.
The new estimate by the House Budget Committee was based on reports submitted by the congressional panels that oversee federal programs ranging from farm aid to veterans' benefits, student loans and Medicare health insurance for the elderly.
It represents the latest effort by Budget Committee Chairman Jim Nussle, an Iowa Republican, to convince lawmakers -- including skeptics in his own party -- that big savings can be wrung out of the politically popular benefits.
"There's still an outrageous amount of waste in the federal government," Nussle said. "It's pretty clear we have barely scratched the surface."
Nussle initially sought to mandate over $130 billion in cuts to the programs as part of the 2004 Republican budget. But he was forced to back off when moderates in his party revolted against the plan, which came at the same time Congress was approving President Bush (news - web sites)'s big new tax cuts.
In the end, lawmakers were simply required to try to find examples of "waste, fraud and abuse" in federal programs that could then be tackled at a later date. Congress has regularly vowed to overhaul government programs in the past, but rarely mustered the political will to actually follow through.
"It's a heck of a lot of work, and there isn't a lot of political payoff in weeding the garden," Nussle acknowledged.
Even so, Republicans are keen to show they are targeting federal spending at a time when budget deficits are rising to record levels and the cost of the Iraq (news - web sites) war is becoming clear.
Democrats said they supported the aims of the effort, but cautioned that cuts on the scale that Republicans originally sought could not be achieved without also slashing services.
"Simply put, the submissions do not appear to have achieved the stated goal, that of identifying legislative changes that would produce $132 billion in savings," said Rep. John Spratt of South Carolina, the Budget Committee's top Democrat.
I may be a bit behind on some US news and all. :P