Since 9/11, Nearly Half of all Pentagon Contracts Awarded Without Competition

related: Pentagon pays $720 Million in late fees for storage containers since 2001

source: Raw Story   Aug 30, 2011

Nearly half of the approximately $300 billion of taxpayer money the Department of Defense spent on projects in 2010 was awarded for no-bid contracts — some of which weren’t necessary, the Center for Public Integrity’s iWatch News reported on Monday.

The cost of the non-competitive contracts the U.S. military has tripled in the last 10 years, now tallying up to $140 billion of taxpayer money per year on quick solution defense spending.

Though competition amongst companies saves taxpayer money, the stated urgent nature of the military’s needs pushed aside fiscal concerns. In 2001, the Pentagon’s non-competitive contracts cost around $50 billion. In 2010, nearly a decade after the war on terror began, that spending has risen to around $140 billion. Only 55 percent of contracts awarded in the first two quarters of 2011 were competitive.

more at original story: http://www.rawstory.com/rs/2011/08/29/since-911-nearly-half-of-all-pentagon-contracts-awarded-without-competition/