Spending on Homeland Security Since 9/11 Radically Disproportional to Possible Threats

Aug 29

Quantifying the obvious: a couple of economists have authored a report showing that homeland security spending is a massive waste of expenditures, with no reasonable relationship to the actual risk of terrorism.  But don’t expect it to be reduced any time soon: too many interest groups are making too much money for these programs ever to be scaled back.  And, BTW, a recent SEC regulation designed to protect ordinary investors was struck down by the DC Circuit because, among other reasons, the SEC failed to demonstrate its cost effectiveness.  Conservatives, it seems, are indifferent to rent seeking when it comes to “security,” and especially if part of those funds goes to their own pockets, whether through increased campaign contributions or obtaining lucrative security contracts directly.

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