Committee on Oversight and Government Reform, Subcommittee on Government Management, Organization and Procurement: “Last year, Rep. Henry A. Waxman released the first comprehensive assessment of government contracting under the Bush Administration. The report, entitled Dollars, Not Sense: Government Contracting Under the Bush Administration, found that between 2000 and 2005, federal procurement spending rose by over 80%, no-bid and other contracts awarded without full and open competition increased by over 100%, and contract mismanagement led to rising waste, fraud, and abuse in federal procurement. This new report finds that the worrisome trends identified last year have worsened significantly. For the first time, (1) annual federal procurement spending crossed the $400 billion threshold, (2) more than half of this spending — over $200 billion in new contracts — was awarded without full and open competition, and (3) the total value of wasteful federal contracts now exceeds $1 trillion.”