Skip to comments.Another Consumer Bureau Budget Stall [Recess Czar Update]
Posted on 05/23/2012 8:59:52 AM PDT by Oldeconomybuyer
Consumer Financial Protection Bureau chief Richard Cordray responded to House Republicans' budget questions in writing last week, and what a revealing letter it was. Instead of addressing concerns about the bureau's spending and hiring spree, Mr. Cordray ducked and weaved and adopted a defensive tone. In the age of trillion-dollar annual deficits, this is a stall worthy of public attention.
The few numbers that Mr. Cordray did reveal in the letter are stunning. The consumer bureau, which is less than a year old, has already hired 828 employees as of the end of June, expects to employ 1,360 people by the end of next year and will "update resource allocations and staffing projections" as the bureau "matures." Mr. Cordray anticipates spending $198.2 million in the last six months of this year, up from $158.2 million from January through June. Here's betting that number will climb next year, too.
Given Mr. Cordray's obfuscation, it's little wonder that Republicans concerned about trimming federal spending are putting up a fight. But the only way to achieve real change at the unaccountable consumer bureau is to make it subject to congressional appropriations or, even better, to get rid of it altogether. Only a Republican president and a Republican-dominated Congress are likely to do that.
(Excerpt) Read more at online.wsj.com ...
No part of the Federal Government should have funding not under the Congressional appropriations process.
This should be a Tea Party issue.
...and we need $200M in expense and 1,300 additional bureaucrats to do what? ...and how long have we survived as a Nation without this gigantic expense?
Everyone associated with this debacle should be prosecuted and stuffed in a jail cell for stealing taxpayer dollars.