Iraq war reconstruction: $6 billion to $8 billion wasted, US official says

[sinkingfeeling]

http://openchannel.msnbc.msn.com/_news/2012/07/17/12795510-iraq-war-reconstruction-6-billion-to-8-billion-wasted-us-official-says?

The official in charge of monitoring America’s $51 billion effort to reconstruct Iraq has estimated that $6 billion to $8 billion of that amount was lost to waste, fraud and abuse.

Stuart Bowen, the special inspector general for Iraq reconstruction (SIGIR) for the past eight years, gave that estimate in an interview with the Center for Public Integrity on Monday, shortly after releasing a new summary of his office’s many grim discoveries since it began work in in 2004.

According to the report, auditors repeatedly found that the State Department and Defense Department failed to properly review invoices from government contractors, often approving billions of dollars in services without checking if costs were accurate or efficient. “I think the consistent theme throughout our eight years of oversight work has been the inconsistent availability of records and information on contracts and costs,” said Bowen, a former Texas lawyer.

Friday’s report mostly detailed the persistent poor handling of government contracts. “In some instances, invoices were reviewed months after they were paid,” according to the report. “Poor and/or delayed invoice reviews add risk that the government may overpay, or pay unallowable and unreasonable costs.”

[mazzarro]

1. A low estimate IMO

I will put the number closer to $15B - $20B if you add stolen/squandered Iraqi money too!

[awoke_in_2003]

2. I am shocked, I tell you..

No, really, I am

[Proud Liberal Dem]

3. Iraq was a monumental clusterf**k

and a horrible waste of lives (both American AND Iraqi) and money. Saddam's gone, sure, but no WMDs were ever found. Was it *really* worth it? Really?