So before you think that only entertainers, rappers, and the immature members of the class of nouveau riche are the only ones who know how to ball out of control, have I got news for you! These guys have nothing on that ultimate King of Bling, the US Government. For most of you, this should come at no surprise--the government collects your money through taxation, and spend it on various things they think you "need," usually without your input. This week we get a special taxpayer report on the US Department of Justice:
The prices above include an 18% service charge, but its beside the point.
First, let me congratulate the US DOJ for putting the audit out there for all to see. What's frustrating is that though the government spending of your tax money its evident that they need some leadership in selecting vendors properly. Think about it--how many of you out there can truly tell the difference in the taste of a $1 meatball and a $4 meatball? This is an important point, because most people can't. And in most cases, there isn't a difference--it's all in marketing (we'll cover this more in a later article).
You can get the report here, (if you're that big of a nerd). The point of reference mentioned above starts on page 76. Under the table of out-of-control spending detail, we find the the costs"...were so expensive that they may not be considered reasonable uses of appropriated funds..."
I bet.
Point being, if the government cannot control its spending with any reasonableness, and won't even try, they're probably not the folks you want to look to for help with your financial future. Now if they're looking to help out with the receptions at the MTV Video Music Awards next year, let them handle it. They've gotten the overspending down.
Next week, we put ourselves on the firing squad. How good at we at determining the true cost of "stuff"? Cars? Houses? Food? We'll take a look at it.
An internal Justice audit,(pdf) released Friday, showed the department spent nearly $7 million to plan, host or send employees to 10 conferences over the last two years. This included paying $4 per meatball at one lavish dinner and spreading an average of $25 worth of snacks around to each participant at a movie-themed party.
The prices above include an 18% service charge, but its beside the point.
First, let me congratulate the US DOJ for putting the audit out there for all to see. What's frustrating is that though the government spending of your tax money its evident that they need some leadership in selecting vendors properly. Think about it--how many of you out there can truly tell the difference in the taste of a $1 meatball and a $4 meatball? This is an important point, because most people can't. And in most cases, there isn't a difference--it's all in marketing (we'll cover this more in a later article).
You can get the report here, (if you're that big of a nerd). The point of reference mentioned above starts on page 76. Under the table of out-of-control spending detail, we find the the costs"...were so expensive that they may not be considered reasonable uses of appropriated funds..."
I bet.
Point being, if the government cannot control its spending with any reasonableness, and won't even try, they're probably not the folks you want to look to for help with your financial future. Now if they're looking to help out with the receptions at the MTV Video Music Awards next year, let them handle it. They've gotten the overspending down.
Next week, we put ourselves on the firing squad. How good at we at determining the true cost of "stuff"? Cars? Houses? Food? We'll take a look at it.
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