Military contractor Transdigm gouged taxpayers $1,443 for a small part that cost $32 to make. Congresswoman Alexandria Ocasio-Cortez rightly asked Transdigm’s CEO at a congressional hearing, "Why should we give you another dime?"
Don’t miss the weekly video from Stossel TV. Sign up here: https://johnstossel.activehosted.com/f/1
"It seems to me the government always has the choice of what to buy and what not to buy from us," the CEO responded.
That’s true. The problem is that the bureaucrats who make spending decisions rarely care about cost. It’s not their money.
"This is a lot of money to you or to me, but to an organization with a budget of $750 billion a year, this is nothing," Eric Gomez of the Cato Institute tells me.
The video above includes absurd examples of waste, and discusses how to reign it in.