Where is the Money Going?
CEOs of Major Defense Contractors Earn More in a Day than Average U.S. Worker in a Year
This statistical fact would be just another example of income inequality in America were it not for the fact that U.S. taxpayers are paying for defense contracts, and the CEOs’ salaries are factored into the tab for the contracts which, in some cases, are awarded without competition. read more
Rich Americans Give Smaller Percentage of Income to Charities
Much of what organized religion does has little to do with charity and more to do with institutional self-preservation and even political activity. In 2008, for example, giving to the Mormon Church spiked while it was playing a crucial role in passing a California ballot measure banning gay marriage. read more
U.S. Loses More Than $7 Billion a Year due to Loophole in Executive Compensation Tax Law
In 1993, the IRS adopted a rule that limited the deduction for executive compensation at publicly-traded corporations to $1 million per executive. However, the rule exempted compensation that is based on an executive’s performance, which is fully deductible. read more
Postal Service Wasted almost $2 Million Overproducing Simpsons Stamps and Flags of Our Nation Series
The five most popular commemoratives between 2009 and 2011 were:
• Christmas Holiday Evergreens (1,811,577,438 sold)
• Winter Holidays (1,078,703,956)
• Flags of our Nation Series 3 (496,570,600)
• Love King and Queen of Hearts (480,160,800)
• Adopt a Shelter Pet (389,707,871)
read more
House Committee Accuses Air Force of Not Allowing Others to Compete with Lockheed and Boeing for Satellite Launch Contracts
Two of the nation’s largest defense contractors have enjoyed a virtual monopoly over the launching of Air Force satellites into orbit. But a bipartisan effort in the U.S. House seeks to end the sweetheart deal and open up opportunities for small... read more
Sioux Tribe Reaches Out on Internet to Raise Money to Buy Back Sacred Land
Having lost their lands two centuries ago, members of the Sioux Nation are now trying to buy back a portion of the Black Hills.
The Rosebud Sioux Tribe and the Native American blog Last Real Indians want to raise $1 million to purchase 1,943... read more
4-Star General Faces Possible Demotion for Wasteful Spending
Army General William “Kip” Ward may lose a star and a million dollars in retirement pay for overspending on travel and accommodations while serving in Africa.
Ward, a four-star general (the Army’s highest rank) and the first head of the new ... read more
Pentagon Exploits Lower Drought-Related Prices to Stockpile Meat
The Department of Defense has a reputation for wasting a lot of money, but in at least one case the Pentagon has found a way to save money.
Because of this year’s drought, the meat industry has been forced to drop its prices. The military al... read more
Retired Federal Workers Receiving 6-Figure Pensions Now Top 21,000
Retiring from years of service in the federal government can really put the gold back into the golden years.
Washington is currently paying more than 21,000 retired federal workers pensions of $100,000 or more per year, according to USA Toda... read more
Two Campaign Groups with Anonymous Donors Outspend all Super PACs Combined
There are currently two kings of the hill among campaign donor groups and both wear conservative crowns.
Crossroads GPS and Americans for Prosperity have spent almost $60 million on television ads so far this election this season, putting th... read more
Timber, Beef and Off-Road Vehicle Industries Accuse Forest Service of Paying Too Much Attention to Scientists
Federal forestry officials have too often made decisions regarding National Forests that ignore the private sector’s bottom-line in favor of preservation and sustainability, according to a lawsuit by timber, ranching and off-road vehicle interes... read more
Like Athletes who Dope, Wall Street’s High-Speed Traders Try to Keep Ahead of Regulators
Cheating is a diehard temptation for athletes and speculators, making it imperative for regulators to keep up with changes in the game and ways for people to skirt the bounds of legality. This is especially true on Wall Street, where high-speed co... read more
Federal Election Commission Accused of Deleting Campaign Donor Records from 2008 Election
Political contributions totaling millions of dollars made during the 2007-2008 election cycle have been erased from a federal database maintained by the Federal Election Commission (FEC).
According to three university academics studying camp... read more
Consumer Protection Bureau Orders its First Penalty and Refund…$165 Million to Capital One for Misleading Credit Card Customers
Capitol One Bank has earned the distinction of being the first bank penalized by the new Consumer Financial Protection Bureau (CFPB), which discovered the financial institution had duped millions of customers into buying products they didn’t nee... read more
Supposedly “Drastic” Defense Cuts would Merely Return Spending to 2006 Level
In the worst case scenario, the Department of Defense next year will have to make do with only $470 billion—an amount it got by on during the George W. Bush administration while the U.S. was fully engaged in both the Iraq and Afghanistan wars.
... read more
The Homeland Security Program Made for Jewish Non-Profits
While nothing in its policy guidelines say it’s supposed to be this way, the Department of Homeland Security (DHS) has distributed the vast majority of its nonprofit security grants to Jewish organizations.
During one three-year period (2007... read more