'$60 billion of $206 billion spent on private contracts in Iraq and Afghanistan was lost to waste, fraud and abuse'

remember this when they cut your social security and medicare and tell you that we are broke............from federal times.......

"A key senator said Wednesday she is working on a comprehensive overhaul of wartime contracting procedures in response to a report that $60 billion of $206 billion spent on private contracts in Iraq and Afghanistan was lost to waste, fraud and abuse.

Sen. Claire McCaskill, D-Mo., chairwoman of the Senate Armed Services subcommittee on readiness and management support, pledged the new legislation during a hearing where Defense Department witnesses acknowledged problems with contracts but said they were making progress.

Some projects, including an expensive power plant, have been built but not used because Afghanistan can't afford to operate them, McCaskill said. "Somebody should've said ‘Whoa, time out, we need to stop this,' " she said".........READ MORE