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November 14, 2006
It's quite remarkable that ...
... a business columnist can write the following without anyone remarking on how remarkable it all is:
Let's consider the pluses and minuses [of the results of the election for the economy of the D.C. region:]The big negative is that the government-contracting gravy train, which the regional economy has been riding for the past four years, just jumped the tracks. It's not only that the war in Iraq will start to wind down, along with all the logistical support and reconstruction work that goes with it. Even more significantly, the Democratic Congress is about to lift the veil on the orgy of contractor waste, fraud and abuse that has gone unchecked at the Pentagon, the intelligence agencies and the Homeland Security Department.
The process of De-Halliburtonization will lead to a cutback in defense and homeland security contracting, a squeeze on contractor profits, a hit to share prices and a noticeable deceleration in wage increases for key employees.
So, one can openly and matter-of-factly say that the contractors live on unchecked "waste, fraud and abuse", that the on-going contractor gravy-train is fed by the Republican-dominated Congress and be considered perfectly respectable... as long as one says it in the business pages.
Posted by zeynep at November 14, 2006 08:21 PM
Comments
"the big negative"...WTF???
Posted by: Jean at November 15, 2006 05:01 PM