February 17, 2011

Waste and Abuse: The Refuse of the Federal Spending Binge

Veronique de Rugy

George Gibbs Chair in Political Economy

In Veronique de Rugy’s testimony before the House Committee on Oversight and Government Reform, she noted: “In fiscal year 2010, the federal government spent $3.6 trillion dollars, or 24.6 percent of GDP, well above the historical average. The consequence of this spending was $1.3 trillion in budget deficits. A large part of this overspending was improper spending or spending that never should have happened at all.”