Gold Maven
Bronze Member
- Jul 4, 2012
- 2,286
- 2,101
- Detector(s) used
- Tesoro Lobo
- Primary Interest:
- All Treasure Hunting
In 2006, the Federal Funding Accountability and Transparency Act was signed into law by President Bush. The law required the creation of a website (USASpending.gov) that would track all federal spending in one location.
A lofty goal was set to obtain 100% accuracy by the end of 2011.
On August 1, 2014 the Government Accountability Office issued their assessment and it wasn't pretty.
The GAO reported that more than $600 billion in spending is not being reported, and less than 7 % of the data listed on the website is accurate.
From Oct, 2014 issue ICMJ.
A lofty goal was set to obtain 100% accuracy by the end of 2011.
On August 1, 2014 the Government Accountability Office issued their assessment and it wasn't pretty.
The GAO reported that more than $600 billion in spending is not being reported, and less than 7 % of the data listed on the website is accurate.
From Oct, 2014 issue ICMJ.
