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Wednesday, October 26, 2005

Pentagon Wasting Your Tax Dollars

Seth Borenstein of Knight-Ridder explained on my show how the Pentagon is wasting millions of your tax dollars -- spending $20 for an 89¢ ice cube tray, $81 for a $29 coffeemaker, etc. -- by changing the procurement method and costing us 20% more than before. You won't believe how poorly the system works (unless you're one of their "prime vendors," in which case you're loving the mark-ups!). He also explained how the Pentagon bought a bunch of armored Mercedes for Iraqi officials at a cost of $1 million, but screwed it up and got nothing but lemons (and they can't get the money back because they did such a bad job negotiating the no-bid deal!).

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