Free Republic

Two weeks ago I reported on the $250 million real estate boondoggle by the General Services Administration whereby the GSA is moving the Coast Guard out of an existing, below-market lease at the cost to taxpayers of $250 million dollars.  Today I’m reporting on another, MORE EXPENSIVE real estate boondoggle by the GSA, which leads me to believe that if Congress is really serious about making real cuts to federal expenses that they can start with some easy cuts on federal real estate and personnel costs at the GSA. That’s because according to the House Committee on Transportation and Infrastructure,...

Just a few blocks away from Nationals Park the federal government holds a below-market lease at 2100 2nd Street, SW, Washington D.C. The 600,000 square foot lease doesn’t expire until May 15, 2018 and is valued at least $48 million in rent and likely represents another $40 million in savings below market rates for commercial real estate. But, in a time of tight budgets, when taxes have been raised on all Americans to support Washington’s addiction to spending, bureaucrats at the General Services Administration (GSA) have decided to…wait… abandon the cost-effective space, move the employees to a new, higher rent...