Hear that flushing sound as billions of taxpayer dollars swirl down the drain?
Just think of what could we do with all that money if some folks with brains and ethics were in charge. (Reuters):
The United States has carelessly, and possibly fraudulently, handled some Iraqi money meant for rebuilding and poorly managed billions of dollars of U.S.-funded contracts, said U.S. audits released on Wednesday.
In one area of Iraq alone, nearly $100 million in cash used for rebuilding was unaccounted for. Incompetence by U.S. procurement staff ranged from contractors being paid twice to files being misplaced.
Two audits by the U.S. Special Inspector General for Iraq Reconstruction found flaws in how U.S. government and military officials ran contracts paid for by the Development Fund for Iraq, Iraqi money entrusted to the United States after the 2003 invasion.
A third audit looked at a small sample of U.S.-funded projects paid for with $18.4 billion appropriated by Congress to rebuild Iraq and found sloppy and disorganized administration of some of those deals.
“There was no assurance that fraud, waste and abuse did not occur,” all three audits said.
…Examples of sloppiness included 645 transfers of more than $23 million in cash using the wrong form; one contractor being paid twice for the same work, and 10 payments amounting to $324,500 were submitted for canceled contracts.