Are housing costs driving inflation in 2024?

We’ve seen in the last few months a disastrous display of what happens when amateurs run amok with government resources. The destruction caused by Elon Musk and his Department of Government Efficiency (DOGE) crew has harmed the lives of possibly millions of people and will take years to rectify. Some estimates suggest that thousands, if not tens of thousands, of lives have been lost due to the cut in foreign assistance. The Partnership for Public Service, the primary nonprofit advocating for federal employees, has suggested that the so-called “cuts” will result in the government spending more money, not less, due to lost productivity and the departure of experienced workers.

Yet this month, we got an example of what actual government oversight and genuine cost-cutting look like. The House of Representatives Subcommittee on Government Operations held a hearing with the sexy title, “Safeguarding Procurement: Examining Fraud Risk Management in the Department of Defense.” The hearing included the Inspector General of the Department of Defense (DOD) and an expert with the Government Accountability Office (GAO). For policy wonks in D.C., the GAO is often called the last honest person in Washington. They thoroughly investigate how tax dollars are spent and study how to improve the efficiency of government programs. (Wait … wasn’t that supposed to be the mission of DOGE?)