Debt ceiling cost to taxpayers: $18 million
August 2nd, 2011
01:19 PM ET
3 years ago

Debt ceiling cost to taxpayers: $18 million

(Updated at 2:15 p.m. ET)

NEW YORK (CNNMoney) - The debt ceiling debacle has just cost U.S. taxpayers more than $18 million.

That's the amount of additional interest the government had to pay investors Monday to sell Treasury bills that finance its operations.

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Filed under: Debt
January 28th, 2010
10:44 AM ET
5 years ago

Stimulus 'fraud will occur'

NEW YORK (CNNMoney.com) - Kentucky construction magnate Leonard Lawson is on trial this week in Lexington federal court for allegedly bribing the state's Transportation secretary during the past decade to win big highway and road projects. But that didn't stop Lawson family companies from winning $24-million dollars in federal Recovery Act contracts!

Though Leonard Lawson pled not guilty, companies with ties to Lawson should have been suspended from bidding for stimulus work within 45 days of his indictment on bribery, theft and obstruction of justice charges, according to a Department of Transportation rule. But, it took the Transportation Department 10-months to act - after the Lawson firms had won the contracts.

"I really think that's a shame and a disgrace," said Rep. Edolphus Towns, D-N.Y., chairman of the House Oversight & Government Reform Committee. "When people see folks getting away and getting contracts even after they've been indicted, that to me does not help in terms of us to get rid of waste fraud and abuse."

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Filed under: CNNMoney.com • Stimulus