This from the Cato Institute on the report of lavish spending by the GSA which caused the head of the agency to resign:
"As the politicians trip over one another to make empty promises to end such abuses, keep in mind that Bureaucrats Gone Wild is what you’re going to get when you give human beings the ability to spend gobs of other people’s money. The only sure way to stop government employees from wasting money is to stop giving them money in the first place..."
In the business world publicly traded companies have checks and balances to contorl operations to insure company officals and employees are acting as stewards of the investing public money entrusted to these companies. GAAP accounting rules and SEC regulations on financial reporting are only a small segment of these checks and balances. Privately owned companies are free to spend money as they wish but then it is their money unless restricted by loan covenants. Governement however seems to be amiss of these checcks and balances and much of how government operates would be grounds for immediate termination and/or possible criminal charges. Something is grossly wrong with the current system of government operations.
ReplyDeleteGovernment will spend every dollar that we send to it or that anyone will lend it. Sadly, it is actually in their best interest to do just that.
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