Inefficiency, inaccuracy and underuse in managing federal property costs taxpayers at least $1.6 billion each year. That is the troubling conclusion of a report the House Subcommittee on Government Operations addressed today in its first-ever hearing.
Though real property management may seem “boring,” underused and inefficiently managed property is important because of how much money it wastes, said subcommittee chairman John Mica.
“Americans have a right to know how their money Washington has taken from them — how it is spent, and that it is well-spent,” Mica said at a hearing titled “Failures in Managing Federal Real Property: Billions in Losses.”
The issue has been listed high on the Government Accountability Office’s high-risk series for 10 years now, despite several efforts to fix inefficient systems across the government. The issue is especially pressing with sequestration looming and the federal debt approaching $17 trillion, Mica said.
Read More at The Washington Examiner . By Michal Conger.