Why government projects so often come in over-budget

It is no secret that government is inherently inefficient at providing various goods and services. From time to time, we hear about the $640 toilet seats, $7,600 coffee makers, government employees playing golf or watching porn on the taxpayer’s dime and so forth. A new study from the libertarian Cato Institute offers a good analysis of the history and causes of federal government project cost overruns.

 

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