WASHINGTON, D.C. – Today, U.S. Senator Rand Paul, chairman of the Federal Spending Oversight Subcommittee, released the seventh installment of his “Worldwide Waste” series, a special project of “The Waste Report.” Dr. Paul’s “Waste Report” alerts taxpayers to egregious examples of waste within the U.S. government to help reform spending and keep legislators accountable to the people.
Unmoored from significant strategic priorities, foreign institutional development projects tend to least benefit the American taxpayers who fund them. While the endeavors may have laudable intentions, and some measure of benefit somewhere, programs that do not meet a policy priority and do not benefit American taxpayers are simply bad policy that Congress should do more to reform or eliminate.
This edition of “Worldwide Waste” covers examples such as our government devoting nearly $3 million to producing foreign television dramas, granting $400,000 to cut business-stifling regulations in Armenia with a “regulatory guillotine,” while America’s own businesses remain buried under a mountain of regulations, and spending over $550,000 for the Department of the Treasury to, in part, advise Moldova’s central bank on how to manipulate interest rates.