By Matt Brown
WasteWatcher, October 2013
Fiscal year (FY) 2013 just ended and federal agencies enjoyed a shopping spree.
This spending binge occurred because at the end of every fiscal year agencies are incentivized to spend the remaining money in their budgets in order to justify a similar or increased budget for the following year. This phenomenon, known as “spend it or lose it,” leads not only to wasteful spending, but to poor investments and awful management at the federal level.