Here's Another $300 Million in Stimulus Spending You Can Expect to Get Totally Pissed Away by The Same Housing Agencies The Feds Say Pissed Away Earlier $$$


Expect to see variations on this story of weak oversight and big checks for the rest of your lives:

Housing agencies faulted in audits to get $300M of stimulus

The federal government will soon send more than $300 million in stimulus funds to 61 housing agencies that have been repeatedly faulted by auditors for mishandling government aid, a USA TODAY review has found.

The money is part of a $4 billion effort to create jobs by fixing public housing projects that have fallen into disrepair. Recipients include housing authorities in 26 states that auditors have cited for problems ranging from poor bookkeeping to money that was spent improperly, according to the review of summaries the agencies must file with the federal Office of Management and Budget (OMB).

But don't worry, gentle taxpayer! This time, "the government has promised to closely monitor how the agencies spend the money."

Doesn't that make you feel better? Here's your government oversight at work:

Congress gave the Obama administration permission to withhold stimulus aid from housing authorities that the Department of Housing and Urban Development lists as "troubled" because of factors such as poor maintenance and financial management. But HUD decided to release the money to these authorities because they "should have the opportunity to improve their housing," spokeswoman Donna White said.

And here's USA Today's list of 61 agencies cited by auditors.

Whole story here. How bad will the wasteful spending of stimulus funds be overall? Think about it all as defense spending on steroids. That is, huge pools of money that are generally immune to any sort of real oversight because, you know, to actually follow up on how the dough is being spent would be unpatriotic. A trillion here, a trillion there, and suddenly you're talking about real waste.

Get a handle on just how much moolah is being thrown off a cliff in TARP, stimulus, you name it: