https://thehill.com/opinion/white-house/413019-president-trumps-war-on-federal-wa
Recently, President Donald Trump declared war on federal waste. The president pledged to cut spending and asked his agency heads to cut five percent of their budgets. It’s a great first step and an achievable goal.
Under the previous two administrations, the federal debt has tripled. The last Bush administration began with a $5.7 billion national debt and ended with $10.7 trillion. By the end of the Obama Administration, the debt had reached $19.5 trillion. Today, our national debt exceeds $21.5 trillion.
Economists differ on how much of a threat the debt poses to our economy. We share the view of President Obama’s chairman of the joint chiefs of staff Admiral Mike Mullen who said the debt is a our greatest national security threat. However, everyone can agree that misallocating tax dollars for activities that produce no benefit keeps tax rates artificially high and deprives investors and innovators of scarce capital.
Our recent investigations and oversight reports show that the president has a target-rich environment. Here is a small sample of our findings:
The federal government doled out more than $600 billion in grants last year; many produced little value for taxpayers. A $1.4 million grant funded sex-education for California prostitutes, another one studied “where it hurts the most to be stung by a bee.” And a $1 million grant sought to prepare religions for the discovery of extraterrestrial life. Lastly, NASA spent $2.5 million to produce “Space Racers,” an animated children’s cartoon. The American taxpayer paid for a $9.2 million grant to the airport on Martha’s Vineyard in Massachusetts.
Even America’s most elite universities and successful corporations received plenty of taxpayer subsidies. In a six-year period, the eight schools of the Ivy League received $22 billion in federal grants — despite having $120 billion amassed in their endowments. Over the last three years, Fortune 100 companies received $3.2 billion in grants. Boeing can’t argue it needed the $774 million in federal grants while reporting nearly $100 billion in annual revenue.