This sort of thing happens in government employee-land all the time.
This is the sort of crony capitalism that goes on every day but resides in the deep shadows of hospital bureaucracy and government reimbursements. It is balance sheet crony capitalism, cloaked in paperwork and nonsensical numbers only decipherable to those who deal with the programs in question.
Ah yes. Junket jets.
Hey, everyone likes a party right? And what’s better than a party you have to pay for? A party someone else has to pay for of course!
Sadly most of us aren’t invited to these parties and we are the ones picking up most of the tab, so lose lose for us. (Big corps pony up some of the cost as it is a good chance to show the wonks and delegates how good a corporate partner one can be.
Government and unions do not mix, at least not for the taxpayer. Heck even FDR, Mr. New Deal, knew that government unions were a bad idea.
Many who hold elected office like to “live rich” with our money. Not everyone. Believe it or not there is the odd responsible guy or gal up on Capitol Hill. Not everyone is completely taking advantage of the system. But many are.
Mr. Obama is. And he likes his taxpayer funded vacations.
It should be noted that when a contractor defrauds “the government” that company is really defrauding the taxpayers. And despite what some may believe, it’s not like the government is wholly unaware when big time sketchiness is going on. It’s understood to a large degree. It’s part of doing business for both regulators and the “regulated.” The numbers are so big. Sure, someone is going to scrape some of the cream. (This is the assumption.) It’s government contracting after all.
At the trough.
Boeing is a big boy on Wall Street and in Washington DC and it isn’t going to let a bunch of free marketeers take its taxpayer underwritten boondoggle away from them if it can help it. What do these taxpayers think anyway? That America belongs to them? Man are they clueless. America belongs to companies like Boeing and the government apparatchiks who are sponsored by companies like Boeing.
No business, defense contractor, bank, car company or any other type of firm is “too big to fail.” In fact if anything the firms tagged with TBTF are already failing and that is why the taxpayer is forced to prop them. That does not seem to be the case with Lockheed Martin. (Currently that is. Lockheed was bailed out by the taxpayers in 1971, one of the first corporate bailouts.)
By spreading itself out over the American map Lockheed has created lots of friends in Congress.
The guys behind the glass only make $120K.
One can make a very good living in the Federal government, and these numbers don’t factor in bonuses or retirement pension. Also one must also consider how much extreme job security is worth.
Who needs deposits when one has the Fed and taxpayers? Market mechanism? We don’t need no stinking market mechanism!
Time to dust these off?
David Stockman asks this question, though he knows the answer.
Why should we expect federal employees to actually work for us? Wouldn’t our money be better used if we paid these federal employees to organize their unions so that they can figure out how to squeeze more money from us?
Good news. We already pay them to do that!