Waste and Irresponsible Spending – #28
The Management Message is to focus your internal/external auditors and accountants on LINE-BY-LINE budget item analysis to avoid problematic situations that can arise and serve as a potential savings that translate into profitability. Our Federal Debt amounts to $21.7Trillion – In the last decade our elected Representatives have allowed the debt to grow four times the total debt produced since our founding 240 years ago. The following represents the spending of some of our Tax Dollars by the Fed. Govt. (OpenTheBooks.com):
Mistakes – In todays automated environment we should be in a position to put AI, Machines, and properly Trained personnel to work in cutting the mistakes by at least 50% – today Mistakes represent 8.5% of the total debt. Medicare/Medicaid, Student Loans and Farm Subsidies plus 20 Federal Agencies represent the largest contributors. How would you like to have the opportunity to recover $1 Trillion? However the investment in training and the proper equipment is required for starters – by the way this applies to all business. Too often business concentrates on a focused area, while other areas are neglected – we hope that your business is accountable for every $ that is being spent according to the PLAN that should be in place.
Use It or Lose It – Fed. Govt. Agencies spent $50 Billion in this stupid area of budgeting. Each department in a business has to start with zero-based budgeting and exercise the spending according to PLAN – and expenditures over $1-2M need justification – any savings realized should go to the Income Statement. Make your Managers accept accountability – and make budget planning an easy and transparent process.
Other Areas of Questionable Spending:
- Ivy League Colleges – They have enough endowment funds – why are we spending $42B? Have local investigators defend the use of their own funds for grants etc.
- Sex Ed for Prostitutes California- $1.4M
- Average Fed.Govt. Employee 43 Days a Year Time Off – $22.6B
- Colleges of Beauty & Cosmetology $677.4M
- 35,212 Federal Lawyers & 3,618 Public Affairs Officers – $5.2B
- Luxury Artwork Purchases – $20M
- Professional Golfers Career College – $4.5M
- Farm Subsidies Into 150 Most Expensive Zip Codes in U.S. – $4.8M
- 389 Famers Receiving Subsidies of $1M or more – $667M
- Funding a Notorious Childcare Facility – $5M
- Non-Military Purchases of Guns and Ammunition – $2.2B
- Space-Racers a Children’s Cartoon – $2.5M
- Hipster Parties – $5M
- Measuring Blood Pressure at Black Barber Shops – $2.1M
- Digipen Institute of Technology – Gaming Education – $51.4M
- Employee Engagement Surveys – $1.7M
- Crescent City School of Gaming and Bartending – $9.5M
- 270 Federal Interior Designers – $22M
- Airport at Martha’s Vineyard – $9.2M
- Government Cheese Subsidies – $21.8M
- Preparing Religions for Discovery of Extraterrestrial Life – $1.1M
- Comedy Club Holograms – $1.7M
- Robert Redford’s Sundance Institute – $3.3M
- SBA Loan Defaults, Exclusives Clubs & Rolex Jewelers – $24.2B
- Funding Christian Seminaries – $815M
- Funding Into 50 Worst Junior & Community Colleges – $923.5M
- Dystopian Climate Change Voicemails from the Future – $5.7M
- High-End Luxury Furniture – $92M
The above accounts (30+) represent $108B in Fed. Govt. expenses – plus in the listing of the 100 top causes of waste Open The Boooks identifies (46) accounts that have questionable reasons for receiving Fed. Govt. money. While I am not judging the wisdom of some of the expenses, I do question the reasoning behind each one, and this is the point of this Blog.
Please ask your questions, and we will make every effort to answer them. For further info go to OpenTheBooks.com and you will get added info.
THE MAIN MESSAGE IS TO MAKE SURE THAT YOU HAVE TRANSPARENCY AND ACCOUNTABILITY IN YOUR BUDGET PLAN.
Sample of Questionable Recipients of Our Tax Money.
- CIGAR TASTE TEST
- 12 MEMBERS OF CONGRESS – RECEIVE FARM SUBSIDIES OF $1M+
- HOW AIR POLLUTION AFFECTS BIRTH BY RACE?
- VIDEO GAME: LAYOFF-HOW DO YOU FIRE WORKERS (NOT BANKERS)?
- REPLACING A FLOATING BATHROOM IN UTAH
- RESEARCHING STIGMATIZATION OF DANISH SMOKERS
- VIDEO GAME – THE LOGICAL JOURNEY OF THE ZOOMBINIS
- VIRTUAL SHOE – FITTING
- PREVENTING PREGNANCY THROUGH THEATRE
- LISTENING TO NATIONAL PARKS
- USING SOAP OPERAS TO REDUCE HIV IN URBAN BLACK WOMEN
- TALKING TO SAGUARO CACTUS
- SMART PHONE APP FOR PARKING CAR
- PAYMENTS TO GAY MEXICAN PROSTITUTES FOR SAFE SEX
- NEW CONDOM DESIGN WITH MORE LUBRICATION
- FEMINIST PORN BOOK
- URBAN GARDEN OF HANGING GRASS
- BLOG FOR BROOKFIELD ZOO
- HOW TO USE A LAWYER GUIDE?
- LIGHTING FOR LIQUOR STORES
- HOW ALCOHOL AFFECTS MEN’S ATTENTION TO SEX CUES?
Send us Your questions – we look forward to answering them.