Hmmm, let's see...as taxpayers, we are responsible to pay to the Internal Revenue Service what the tax code says is our fair share. If we don't, the IRS is sure to notice and will do whatever it takes to collect those monies from us. But that's fair, though, right? If my fellow taxpayers are anteing up their share, so should I.
And the governments to whom we pay our taxes--in this example, the federal government--are responsible to spend those monies in a wise and responsible manner. Right? Well, we all know the answer to that, after we've read some of the audacious amounts the government has paid for items and services over the past, such as the $100 toilet seats.
One of the latest spending blunders to come to we taxpayers is via the Department of Education, the head of which is Margaret Spellings. A 2007 audit revealed the Department of Education had overpaid a lending corporation, Nelnet, by $275 million, due to a loophole in the contract that allowed the company to charge a "higher than market" interest rate.
How did the Dept. of Ed, who is accountable to every tax-paying citizen, deal with this issue to serve the best interests of we taxpayers? Essentially, they said to Nelnet--don't do that any more, and oh yes, don't worry about the extra $275 million--you can keep it.
Additionally, overpayment to other lending institutions may total $330 million MORE.
How did Margaret Spellings respond to this potential $605 million waste of taxpayer dollars? She has forbid any further payments at the higher interest rates to the lending companies, but there will be NO INVESTIGATION into exactly how much was overpaid. Oh yes, six of the one hundred U.S. senators objected to her handling of the situation.
Where does the buck stop? When the government wastes our money so flagrantly--as if waving their hand and poo-pooing the importance of a measly $275 million--why aren't those responsible held to task? Why do they still have their jobs--and Ms. Spellings does--I checked--why can't they be prosecuted for malfeasance or whatever name you wish to attach to this sort of behavior?
Let's have some accountability in all areas of government. The law is that we must pay taxes. Isn't it the law--or shouldn't it be--that those who receive our hard-earned dollars get the most bang for our bucks?