Does anyone question whether we need somebody holding government accountable in what they do? Whether that somebody(ies) is Elon Musk or somebody else, I present a case outlined by Mark P. Mills who has some pretty impressive credentials himself. I will summarize a bit of what he reports in the linked essay:
1. The World Bank has "lost track of" somewhere between $24 and $41 BILLION in Climate Finance money. Most of that came from the USA.
2. The World Bank issue is chump change, however, when it comes to how the so-called Inflation Reduction Act has been used or misused so far. This act includes $3 TRILLION in direct grants, subsidies and such plus ANOTHER $3 TRILLION in related spending required by mandates and rules. As Mills put it, that is far more than the enormous cost of Obamacare and dwarfs the $4 million the USA spent to fight WWII. (Partially copied from Mills' essay.)
". . .A March 2024 Government Accountability Office (GAO) report on overall federal government spending in FY2023 found that “more than $175 billion of errors were overpayments—for example, payments to deceased individuals or those no longer eligible for government programs,” and “$44.6 billion were unknown payments.” [emphasis added] The only “good news,” the GAO wrote, was that the “unknown” was $11 billion less than in the previous fiscal year, when Covid money was still being liberally ladled out. Again, only the naïve would conclude that waste, fraud, and abuse didn’t account for any of those “unknown” payments and “errors” in the normal course of our government’s $6 trillion annual budget. . . "
". . .Now along comes the IRA, another federal government gusher, with its overall $6 trillion directed at “climate finance,” with far fewer administrative and oversight guardrails than one normally finds in federal programs. What could go wrong?. . ."
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And not one dime is identifiable as beneficial to, i.e. makes life better for, Mr. & Mrs. John Doe citizen.
I expect the leftists won't care.
I hope those who still do care are paying attention. If we EVER needed a government accountability office it is now.
www.city-journal.org
1. The World Bank has "lost track of" somewhere between $24 and $41 BILLION in Climate Finance money. Most of that came from the USA.
2. The World Bank issue is chump change, however, when it comes to how the so-called Inflation Reduction Act has been used or misused so far. This act includes $3 TRILLION in direct grants, subsidies and such plus ANOTHER $3 TRILLION in related spending required by mandates and rules. As Mills put it, that is far more than the enormous cost of Obamacare and dwarfs the $4 million the USA spent to fight WWII. (Partially copied from Mills' essay.)
". . .A March 2024 Government Accountability Office (GAO) report on overall federal government spending in FY2023 found that “more than $175 billion of errors were overpayments—for example, payments to deceased individuals or those no longer eligible for government programs,” and “$44.6 billion were unknown payments.” [emphasis added] The only “good news,” the GAO wrote, was that the “unknown” was $11 billion less than in the previous fiscal year, when Covid money was still being liberally ladled out. Again, only the naïve would conclude that waste, fraud, and abuse didn’t account for any of those “unknown” payments and “errors” in the normal course of our government’s $6 trillion annual budget. . . "
". . .Now along comes the IRA, another federal government gusher, with its overall $6 trillion directed at “climate finance,” with far fewer administrative and oversight guardrails than one normally finds in federal programs. What could go wrong?. . ."
_____________________________________________________________________________________
And not one dime is identifiable as beneficial to, i.e. makes life better for, Mr. & Mrs. John Doe citizen.
I expect the leftists won't care.
I hope those who still do care are paying attention. If we EVER needed a government accountability office it is now.
The Inflation Reduction Act: A Looming Political Earthquake
The law's unprecedented climate spending—much of it uninvestigated—may soon lead to unprecedented scandals.
www.city-journal.org
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