Some Federal Contractors Soon Can Get Nearly $1 Million a Year

May 30, 2013

Uncle Sam will soon pay individual private contractors almost $1 million a year, more than twice President Obama’s salary.

Makes “nice work if you can get it” a weak understatement.

Sam doesn’t want to be such a spendthrift, but he can’t control himself. The payments are required by law. The Obama administration is asking Congress to change that, but it’s already too late to lower the current federal cap on payments for work done in the past fiscal year.

So, while federal employees are in the third year of a basic pay rate freeze and many are suffering a reduction in wages through budget cutting and unpaid furlough days, thousands of individual federal contractors will get more than $950,000 each for fiscal 2012.

“This wasteful expenditure of taxpayer dollars must stop,” Joe Jordan, the administrator for federal procurement policy in the Office of Management and Budget, told reporters Thursday.

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