VIEW: 18-03: Massive Debt Examples

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By Bob McDowell (Born Neil Carson) Number 18-03
MASSIVE DEBT EXAMPLES Week of 2018/01/15
It tends to boggle the mind of those of us out in the 'real world' when we are
confronted with occasional reports of the amount of 'National Debt' the USA has
accumulated, last reported it was over $24 Trillion, yes with a T. My feeble mind is
unable to comprehend a number that large, but divide it by the estimated population
of over 320 Million, it still becomes a staggering amount that is really owed by each
and every citizen. Perhaps it would be well to attempt to locate areas where there
has been substantial waste that gathered together would ultimately add up to the final
figure. And the beat goes on, with overspending and out and out waste continuing
daily, or even by the minute.
One glaring example recently surfaced in a morning radio show on KFAQ
(formerly KVOO). The regular host was on vacation the week between Christmas
and New Year and his sub had a guest, by phone, who recounted that FEMA
(Federal Emergency Management Administration) had been purchasing 'trailers'
for dispossessed people to live in for $150,000 each and then only allowing them to
be used for eighteen months before selling them at auction for normally less than
$10,000. The guest stated that some had minor exterior damage, some had
missing furniture, and some had experienced water on the floor. So far as he knew,
the project cost had exceeded $100 million and was continuing, and further that
there were still over 8,000 people displaced from their homes by the recent
hurricane in Houston that would be happy to have these instead of living in
temporary 'shelters' and FEMA funded hotel rooms.
It surfaced during the discussion, and seemed logical to me, that the high
initial cost per unit could be an indication of possible fraud or collusion in the
purchase contract,. Remember the DOD scandal of multi-thousand dollar toilet
seats, and oft reported other excessive equipment cost overruns. In fact, one of
the first things accomplished by PRESDT, possibly even before inauguration, was
to obtain a cost reduction from the manufacturer of the new F-35, to save several
billion dollars over the whole purchase.
This shouldn't come as a surprise, at least to those familiar with the make up
of the members of the bureaucracy. For the most part the Federal, and also most
state, full time employee staff is made up of individuals without free market
employee experience whose supervisors are of the same background who have
come up to supervise by being able to stay there. The idea of profit and economy
does not seem to be of any consideration in their decisions making process. As the
pay scales have risen to exceed those of the private sector, especially when the
fringe benefits and almost absolute job security are included. They seem to simply
ignore orders from the 'replaceable' presidential appointees and do whatever their
political persuasion leads them. That began with the "civil service laws" enacted in
the early days of the FDR Administrations beginning in 1933.
Such wastefulness is not limited to the Federal Government at all, but has
drifted down to most, if not all, of the State Governments. Several years ago a
former Oklahoma State Senator, running for a different office, stated that he had
found, if memory serves correct, that the State was leasing, on a year to year basis
with thus higher rent, seven large storage buildings. He stated that the buildings
were full of furniture and equipment, some new but unused, and that he could find
no office that had an inventory of the contents of even one building. That was back
when the total annual budget was in the multi to hundred millions of dollars, rather
than the several billion now reported.
When a candidate for State Senate in 1996, it came to my attention that the
fund for the Teachers Retirement was only funded to about ten percent, leaving a
shortfall of, if memory serves, about $5 Billion. Being appalled at that information,
correcting it became one of the main themes of my campaign. Unfortunately, it was
unsuccessful as it was against a two term incumbent with fund backing exceeding ten
times that available to me. There was no expectation of victory, but this and other
issues were brought to light and may have assisted in future elections. We the people
are, as usual, still kept in the dark about such goings on!!
END
Composed December 27, 2017
Robert W. McDowell, Jr. © 2018 841 Lynwood Lane
918-451-1051 Broken Arrow OK 74011-8608
Email: abdmcfpi@localnet.com