Politicians often tout economic excuses for social policy. My personal favorite is the ubiquitous: “The Market knows best” argument for laissez faire economic policy.
Today, I bring you the ultimate hypocrisy.
This link shows all of the No-Bid contracts that were awarded for just the 2nd Quarter of 2007. $30 Billion in no bid contracts!
Lets assume that free market efficiencies would change the total we could have saved lets say a very modest 3% – or $1 Billion by allocating these contracts according to market efficiency as opposed to a no-bid process. Annuallize that figure and we have an extra $4 billion a year that could be allocated to alleviating critical social issues or paying down our ballooning debt.
I doubt any politician would propose such an idea – both parties benefit equally from the process of doling out no-bid contracts. It’s only due to recent Republican handouts that the public even became aware that Haliburton is a US company (sort of, considering the extent of their holdings they keep offshore to avoid taxes). Before that it was the democrats feeding Chiquita Banana.