Halliburton contracts up by 600%

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A document compiled at the request of Rep. Henry Waxman of California, confirms that federal contracts are now the fastest growing component of federal discretionary spending. The Government Accountability Office and the Defense Contract Audit Agency were two of the agencies whose 500 reports, audits and investigations were used to compile the report.

Procurement spending increased by 86% between 2000 and 2005, meaning that it has increased more than twice as fast as other federal discretionary spending. According to Waxman, overcharging–in terms of both error and fraud–has occurred frequently. 118 contracts worth $745.5 billion have been found to include waste, fraud, abuse, or mismanagement.

Last year alone, Lockheed Martin received contracts worth more than the combined budgets of the Department of Commerce, the Department of the Interior, the Small Business Administration, and the U.S. Congress. But the big winner, to no one’s surprise, was Halliburton, whose contracts increased 600% from 2000 to 2005.

In 2004, Department of Defense Inspector General’s auditors were removed from Iraq, so as of the end of 2005, $140 billion worth of spending was not being monitored. You may recall that Halliburton lost $9 billion, which has yet to be accounted for.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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