President Obama signs law to allow Pentagon to scrap defense contractor projects with

**min0 lee** · 05-22-2009, 01:17 PM

WASHINGTON - President Obama took aim Friday at greedy defense contractors, signing a new law allowing the Pentagon to scrap projects that run at least 25% over the original projected costs.

"I reject the notion that we have to waste billions of taxpayer dollars to keep this nation secure," Obama said in a Rose Garden ceremony.
"When it comes to purchasing weapons systems and developing defense projects, the choice we face is between investments that are designed to keep the American people safe and those that are simply designed to make a defense company or a contractor rich," he added.

Before heading to Annapolis, Md., to address U.S. Naval Academy graduates, Obama signed the Weapon Systems Acquisition Reform Act, which also puts in place a government watchdog to monitor costs and reduce wasteful spending. A similar law was already on the books, but it amounted to a toothless, mostly ignored piece of legislation.

"Last year, the Government Accountability Office...looked into 95 major defense projects and found cost overruns that totaled $295 billion. Wasteful spending comes from exotic requirements, lack of oversight, and indefensible no-bid contracts that don't make our troops or our country any safer," Obama noted.

"To put this in perspective, these cost overruns would have paid our troops' salaries and provided benefits for their families for more than a year," Obama said. "At a time when we're fighting two wars and facing a serious deficit, this is unexcusable and unconscionable."

It's the latest Obama initiative cracking down on defense contractors he believes were allowed to operate with little oversight during the Bush administration.
Obama has already ended the practice of Pentagon "no-bid contracts" amid an investigation into overcharging military contractors in Iraq and Afghanistan.

Later Friday, Obama will sign a law protecting credit card users from surprise charges, such as over-the-limit fees and costs for paying a bill by phone.

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President Obama signs law to allow Pentagon to scrap defense contractor projects with cost overruns

**IronAddict** · 05-22-2009, 02:48 PM

That scratch wasn't wasted, it went into certain peoples off shore bank accounts.

**Dale Mabry** · 05-22-2009, 02:48 PM

Great law, but just smoke and mirrors, all of this wasteful shit will go on. It gives the Pentagon the right to stop such things but doesn't require them to do so. So, if you give your Cousin Eddie

a contracting job he was never qualified for, are you really going to cut him lose if he's 25% in the red knowing full well you will never get caught? Besides, this will only affect the honest contracts companies bid on, not the no contract bids people are given by their buddies. If you never put in an estimate, how do you go over budget? How many honest companies go that high over budget unless something completely out of the blue happens, anyway? This Bill is just a way to act like he is doing something. It almost seems like his goal is to sign as many Bills as possible. Is that a legitimate Guinness World Record category? If not someone should let him know.

The way things seem to be going, I think I voted for the right guy, but we are in for 4 years of me waiting for something better.

**I Are Baboon** · 05-22-2009, 02:54 PM

"Shitter was full!"

"Honey, have you checked our shitter?"

**Dale Mabry** · 05-22-2009, 02:56 PM

Originally Posted by I Are Baboon

"Shitter was full!"

"Honey, have you checked our shitter?"

That there is an R! V! But don't you go getting too attached to her, she's coming with us when we leave here next month.

**Big Smoothy** · 05-22-2009, 06:06 PM

Yes, the contracting is bad. $600 shovel, that are called "soil removal instruments, and $500 toilet seats.

The stealing and bill padding will go own, but at least it's a little of something.

The military-industrial complex's most powerful component are the private corporation contractors.

**min0 lee** · 05-22-2009, 06:15 PM

City contracts are no better.

We were supposed to get a Jack Nicklaus-designed golf course in the Bronx but all the contractor did was literally move dirt back and forth. They paid him $15 mil for doing crap. Of course the contractor is a mobster.

Now the city will spend another $60 million more to finish up the golf course.

**min0 lee** · 05-22-2009, 06:17 PM

Oh ...and if any tells there are no crooked contractors stealing from the federal state or city, well he's full of crap.... cue in brogers

**KelJu** · 05-22-2009, 06:38 PM

Originally Posted by min0 lee

Oh ...and if any tells there are no crooked contractors stealing from the federal state or city, well he's full of crap.... cue in brogers

I'm still waiting on him to bust up in here to defend the rich contractors and tell us who we are all dumb and don't understand how the economy works.

**min0 lee** · 05-22-2009, 06:57 PM

Originally Posted by KelJu

I'm still waiting on him to bust up in here to defend the rich contractors and tell us who we are all dumb and don't understand how the economy works.

Exactly, he must own a huge company.
Why defend greed?

**Big Smoothy** · 05-22-2009, 10:58 PM

Originally Posted by min0 lee

City contracts are no better.

We were supposed to get a Jack Nicklaus-designed golf course in the Bronx but all the contractor did was literally move dirt back and forth. They paid him $15 mil for doing crap. Of course the contractor is a mobster.

Now the city will spend another $60 million more to finish up the golf course.

NYC and Chicago seem really bad when it comes to this.

Public golf course? The money is there at this time?

**Burner02** · 05-23-2009, 12:08 AM

Originally Posted by min0 lee

City contracts are no better.

We were supposed to get a Jack Nicklaus-designed golf course in the Bronx but all the contractor did was literally move dirt back and forth. They paid him $15 mil for doing crap. Of course the contractor is a mobster.

Now the city will spend another $60 million more to finish up the golf course.

like...duh...mobster? he was disposing the bodies...

**ROID** · 05-23-2009, 12:21 AM

My portfolio looks PHAT.

**min0 lee** · 05-23-2009, 06:07 AM

Originally Posted by Big Smoothy

NYC and Chicago seem really bad when it comes to this.

Public golf course? The money is there at this time?

This has been going on for almost 10 years, all the contractor did was move the dirt back and forth.

**min0 lee** · 05-23-2009, 06:08 AM

Originally Posted by Burner02

like...duh...mobster? he was disposing the bodies...

Don't be surprised if they did.

**sshamm_bone_1** · 05-23-2009, 10:05 AM

Well it's good to see that some sort control over these defense contracts are being started. It's long overdue. Spending some time in Iraq and seeing the jobs that some of these individuals have and the insane amount of money they are getting for doing what comes down to browsing the internet is ridiculous.

**Burner02** · 05-25-2009, 04:35 AM

Originally Posted by sshamm_bone_1

Well it's good to see that some sort control over these defense contracts are being started. It's long overdue. Spending some time in Iraq and seeing the jobs that some of these individuals have and the insane amount of money they are getting for doing what comes down to browsing the internet is ridiculous.

ssshhhh....I resemble that.....

Actually, I don't get paid THAT much...and I do work my ass off...

**lnvanry** · 05-25-2009, 12:42 PM

This legislation may help with smaller defense contractors like HAL, Falcongroup (formerly known as Blackwater) and other smaller sized companies....but the core contractors (LMT, NG, RTN, GD, BE) aren't going to affected much.

As Mabry said, it doesn't require the scrapping of projects...it only allows them too. Most middle tier and top tier DoD employees work for these core contractors after their retirement or departure from the military....it would make NO sense for them to hurt the future career. THis revolving door of DoD and defense contractors is the way of business in the MIC.

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