Latest news with #OpenTheBooks
Yahoo
29-05-2025
- Business
- Yahoo
Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
With Elon Musk's departure from the agency, there's debate roiling over how effective the Department of Government Efficiency's (DOGE), has been in its mission. In a report released just one day prior to Musk stepping down, financial watchdog Open The Books published a report finding it is likely impossible for the average American taxpayer to track the savings associated with the contracts and grants that were terminated by the DOGE team. According to Open The Books' analysis, which mined all the data published on DOGE's official website, the average American taxpayer would likely only be able to confirm 42% of contracts and 27% of grants through an independent review of public federal spending databases. "This doesn't mean these targets aren't real, it simply means it's very hard for taxpayers who want to see additional savings to find proof and evidence of savings," Open The Books points out in its analysis, shared in a report the group released Tuesday. 'Bureaucratic And Wasteful': Doge Sniffs Out Eye-popping Spending On Biden Dei Efforts In Key Agency "Because taxpayers don't have access to real-time transparency and a real-time look at the Treasury Payment System, it's still too difficult for even a highly motivated Joe Taxpayer to confirm the savings claims DOGE is making," the analysis, released ahead of Elon Musk stepping down from running the agency, continued. "It's also far too easy for critics to sew [sic] doubt and confusion." Read On The Fox News App DOGE says on its website that the group's work up to this point has provided the American taxpayer with $175 billion in "estimated" savings from the elimination of contracts, grants and leases, as well as through renegotiations, fraud and improper payment deletion and other mechanisms. However, DOGE's estimated savings have been contested by watchdog groups and budget experts. Such critics have posited that the inclusion of already canceled contracts, double-counting or misrepresentation of contract values, and the unaccounted cost burden that could be imposed on the government when it has to re-hire folks down the line, or revamp its productivity, due to DOGE cuts, have led to inflated savings estimates. Nate Malkus, a senior fellow at the conservative-leaning American Enterprise Institute, has accused DOGE of "overestimating contracts by a factor of two," according to CBS News. Elon Musk 'Disappointed' By Trump's Spending Bill, Says It Undermines What Doge Is Doing But White House spokesperson Harrison Fields told Fox News Digital that DOGE has produced "historic savings" for the American people. "DOGE is working at record speed to cut waste, fraud, and abuse, producing historic savings for the American people," Fields said. "The DOGE Wall of Receipts provides the latest and most accurate information following a thorough assessment, which takes time. Updates to the DOGE savings page will continue to be made promptly, and departments and agencies will keep highlighting the massive savings DOGE is achieving." "DOGE and Elon Musk have done the country an incredible service by identifying savings targets," added Open The Books CEO John Hart. "Having worked on the last major deficit commission with the late Senator Tom Coburn, we would have been elated to have had Musk in our corner. Now it's up to Congress to not only turn DOGE's recommendations into durable savings but to go beyond DOGE's scope and truly tackle our long-term debt and deficit crisis." Open The Books highlighted two "common sense" standards to help establish an "intellectually honest" approach to understanding the true impact of government cuts, such as those being recommended by DOGE. The first is the "durable standard," which asks whether a proposed cut can be easily reversed. Obama-nominated Judge Allows Lawsuit Targeting Musk's Role With Doge To Proceed, Drops Claims Against Trump "Describing something as 'durable' does not mean it is permanent or irreversible; it simply means it is hard to reverse," the Open The Books' analysis stated. "The most durable budget cut in our constitutional system would be passed by Congress, signed into law by the president and be clearly constitutional, or unassailable in a court challenge. Budget cuts become less durable when they lack any of these three elements." The second is called a "duty standard," which illuminates the power behind certain cuts based on who is trying to impose them. "In our constitutional system, the founders gave the job of budget savings to three branches but primarily to Congress," Open The Books points out. "DOGE's job is to identify, not enact, savings targets. It's up to Congress to do the heavy lifting. And We the People have a responsibility to be informed and hold our elected officials accountable." White House Sending $9.4B Doge Cuts Package To Congress Next Week Open The Books ultimately concluded that due to various limitations associated with publicly available data on government spending and revenue, in particular a lack of real-time access to the government's Treasury Payment System, it is still too difficult for even the most motivated average American citizen to either confirm, or deny, the savings claimed by DOGE. Elon Musk officially stepped down from his role as DOGE chief Wednesday evening, as his position of "special government employee" in the Trump administration was limited by law to a few months. Amid the transition, Musk criticized Republicans' spending bill that was passed ahead of Memorial Day in the House, indicating he was "disappointed" it would increase the federal deficit. "I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing," Musk told CBS News in an interview that will air in full on June article source: Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
Fox News
29-05-2025
- Business
- Fox News
Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
With Elon Musk's departure from the agency, there's debate roiling over how effective the Department of Government Efficiency's (DOGE), has been in its mission. In a report released just two days prior to Musk stepping down, financial watchdog Open The Books published a report finding it is likely impossible for the average American taxpayer to track the savings associated with the contracts and grants that were terminated by the DOGE team. According to Open The Books' analysis, which mined all the data published on DOGE's official website, the average American taxpayer would likely only be able to confirm 42% of contracts and 27% of grants through an independent review of public federal spending databases. "This doesn't mean these targets aren't real, it simply means it's very hard for taxpayers who want to see additional savings to find proof and evidence of savings," Open The Books points out in its analysis, shared in a report the group released Tuesday. "Because taxpayers don't have access to real-time transparency and a real-time look at the Treasury Payment System, it's still too difficult for even a highly motivated Joe Taxpayer to confirm the savings claims DOGE is making," the analysis, released ahead of Elon Musk stepping down from running the agency, continued. "It's also far too easy for critics to sew [sic] doubt and confusion." DOGE says on its website that the group's work up to this point has provided the American taxpayer with $175 billion in "estimated" savings from the elimination of contracts, grants and leases, as well as through renegotiations, fraud and improper payment deletion and other mechanisms. However, DOGE's estimated savings have been contested by watchdog groups and budget experts. Such critics have posited that the inclusion of already canceled contracts, double-counting or misrepresentation of contract values, and the unaccounted cost burden that could be imposed on the government when it has to re-hire folks down the line, or revamp its productivity, due to DOGE cuts, have led to inflated savings estimates. Nate Malkus, a senior fellow at the conservative-leaning American Enterprise Institute, has accused DOGE of "overestimating contracts by a factor of two," according to CBS News. But White House spokesperson Harrison Fields told Fox News Digital that DOGE has produced "historic savings" for the American people. "DOGE is working at record speed to cut waste, fraud, and abuse, producing historic savings for the American people," Fields said. "The DOGE Wall of Receipts provides the latest and most accurate information following a thorough assessment, which takes time. Updates to the DOGE savings page will continue to be made promptly, and departments and agencies will keep highlighting the massive savings DOGE is achieving." "DOGE and Elon Musk have done the country an incredible service by identifying savings targets," added Open The Books CEO John Hart. "Having worked on the last major deficit commission with the late Senator Tom Coburn, we would have been elated to have had Musk in our corner. Now it's up to Congress to not only turn DOGE's recommendations into durable savings but to go beyond DOGE's scope and truly tackle our long-term debt and deficit crisis." Open The Books highlighted two "common sense" standards to help establish an "intellectually honest" approach to understanding the true impact of government cuts, such as those being recommended by DOGE. The first is the "durable standard," which asks whether a proposed cut can be easily reversed. "Describing something as 'durable' does not mean it is permanent or irreversible; it simply means it is hard to reverse," the Open The Books' analysis stated. "The most durable budget cut in our constitutional system would be passed by Congress, signed into law by the president and be clearly constitutional, or unassailable in a court challenge. Budget cuts become less durable when they lack any of these three elements." The second is called a "duty standard," which illuminates the power behind certain cuts based on who is trying to impose them. "In our constitutional system, the founders gave the job of budget savings to three branches but primarily to Congress," Open The Books points out. "DOGE's job is to identify, not enact, savings targets. It's up to Congress to do the heavy lifting. And We the People have a responsibility to be informed and hold our elected officials accountable." Open The Books ultimately concluded that due to various limitations associated with publicly available data on government spending and revenue, in particular a lack of real-time access to the government's Treasury Payment System, it is still too difficult for even the most motivated average American citizen to either confirm, or deny, the savings claimed by DOGE. Elon Musk officially stepped down from his role as DOGE chief Thursday evening, as his position of "special government employee" in the Trump administration was limited by law to a few months. Amid the transition, Musk criticized Republicans' spending bill that was passed ahead of Memorial Day in the House, indicating he was "disappointed" it would increase the federal deficit. "I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing," Musk told CBS News in an interview that will air in full on June 1.
Yahoo
24-04-2025
- Business
- Yahoo
Harvard's endowment holds $7 million per student, still receives $550M from govt annually: report
FIRST ON FOX: Amid Harvard's battle with the Trump administration, which has already pulled billions in federal funding from the university and floated taking even more, fiscal watchdog OpenTheBooks decided to take a peek at how much money the top-tier Ivy League school actually stands to lose. Harvard has received at least $4.4 billion in federal funding through grants, contracts, sub-grants and subcontracts since the first Trump administration in 2017, the watchdog found through open-source analysis of government spending records and other publicly available data. Meanwhile, based on these numbers, Harvard collected more in federal grants and contracts than they stood to gain through tuition, room and board in any given year. OpenTheBooks also unearthed that Harvard's $53.2 billion endowment has grown by $14 billion, or $2 billion annually, since 2018. In total, the top-tier Ivy League school has more than $7 million per undergraduate student, the watchdog's report indicated. Trump Froze Funding For Harvard. Money To These Universities May Also Be On The Chopping Block The analysis of Harvard's finances from OpenTheBooks comes as the institution is suing the Trump administration over the freezing of its federal funds. After refusing to comply with President Trump's executive directives on antisemitism, DEI, viewpoint diversity and more, the Trump administration pulled $2.2 billion in multi-year grants and $60 million in multi-year government contracts. The Trump administration has indicated the potential for further cuts as well if the school does not fold to the president's demands, and is also considering stripping Harvard's tax-exempt status. Read On The Fox News App Trump Signs Education-focused Executive Orders On Ai, School Discipline, Accreditation, Foreign Gifts And More Harvard's lawsuit against the Trump administration sets up a fight over higher education autonomy, with the university alleging in its suits against multiple federal agencies that the Trump administration's demands infringe on the school's right to educate and learn free of government coercion. Harvard University did not respond to Fox News Digital's request for comment on this story. "America's university system is still the envy of the world and maintaining that advantage is a matter of national security," OpenTheBooks CEO John Hart told Fox News Digital. "Harvard can lead the way in that process by rejecting totalitarian progressive fundamentalism and reviving America's commitment to classical liberalism, true free speech, true science over 'the science' and rigorous, open debate." Gregg Jarrett: American Taxpayers 'Shouldn't Pay' For Harvard's Indoctrination, Antisemitism In addition to Harvard's failure to comply with the president's executive orders, the Trump administration also accused Harvard of failing to report large foreign donations, as required by law, and has opened an investigation into the matter. On Wednesday, the president signed an executive order threatening to cut off federal funding from colleges and universities that fail to disclose their sources of foreign money. Using data that Harvard has reported to the government pertaining to its foreign donations, OpenTheBooks found that, since 2017, Harvard has accepted at least $1.1 billion in gifts or contracts from foreign sources. The top countries contributing to Harvard are England and China, which have each given over $100 billion to Harvard over the last eight years. Per federal law, universities are required to report payments that exceed $250,000 from foreign sources. Even Before Trump's Engagement, Harvard Understood It Had A Real Problem On The Antisemitism Side, Expert Says "As a private university, they're free to pursue any topic they like – as long as their campus stays within the confines of the Constitution – but that doesn't automatically entitle them to our tax money," Hart added in his comments to Fox News Digital about the Ivy League school's finances. "Harvard can revive its commitment to academic freedom by explaining why it's receiving millions from China, and potentially Iran proxies, and why it's spending tax dollars on far-Left research and race-based identity politics."Original article source: Harvard's endowment holds $7 million per student, still receives $550M from govt annually: report
Sky News AU
22-04-2025
- Health
- Sky News AU
Anthony Fauci's fortune doubled to $15 million between early 2019 and 2023, watchdog finds: ‘During worst of COVID lockdowns'
Dr. Anthony Fauci's fortune doubled — hitting about $15 million ($23 million AUD) — between early 2019 and the end of 2023 over the course of the pandemic, including 'during the worst of the draconian COVID lockdowns,'' according to records obtained by a watchdog group. Fauci's net worth was about $7.6 million in January 2019 before COVID-19 hit and surged to about $15 million by the end of 2023, 141 pages of financial-disclosure forms obtained by watchdog group Open The Books revealed. The doctor, who previously helmed the National Institute of Allergy and Infectious Diseases, officially left the government at the start of 2023, later than previously known. His first year of retirement was especially lucrative — when he earned more than $3.5 million alone, the records show. 'Dr. Fauci's assets soared during the worst of the draconian Covid lockdowns while families and small businesses struggled through school closures and lost income,' Open the Books CEO John Hart said in a statement. 'Now it's clear the cash kept coming during his first year of 'retirement.' He was rubbing elbows with groups like [America's Health Insurance Plans] flanked by taxpayer-funded security — even as his wife remained the top bioethicist at [the National Institutes of Health].' Fauci, 84, earned the highest salary for a government bureaucrat before his retirement, taking in $480,654 during his final year. He worked in public service for more than five decades. The Daily Caller first reported on Open the Books' findings. Despite announcing plans to retire at the end of 2022 and testifying before a congressional panel that he stepped down from his government role at that time, Fauci's 'Application for Immediate Retirement' shows that his date of final separation was actually Jan. 6, 2023. 'I came back to the NIH in 1972, and I started off as a senior investigator to a section head in one of the labs to the chief of the laboratory of immunoregulation in 1980, a position I held until I stepped down at the end of 2022,' Fauci testified to the Select Subcommittee on the Coronavirus Pandemic last year. Fauci had corresponded with NIH officials in late 2022 and was told that his retirement would become official in early January of 2023, according to an email obtained by the watchdog. Retirements from government often face delayed processing because of an arcane paper filing system that the Department of Government Efficiency has since worked to reform. Where did Dr. Anthony Fauci's earnings come from? The financial disclosures do not fully explain the source of that money but provide some hints, showing multiple six-figure tranches of payments he pocketed throughout 2023 that totaled $1.15 million. The payments include $100,000 in April 2023, $100,000 that May, $100,000 in June, $150,000 in September and $700,000 in November of that year. While the disclosures do not explain why or from where he received those funds, it is known that he has delivered various speeches to special interest groups during that time, including to the National Association of Chain Drug Stores in April 2023 and the American Health Insurance Plans in June of that year. Additionally, Fauci participated in events for World Quant, an asset management firm; Japan Medical Congress, and Eminent Series, for four events. Around March 2023, Fauci also sold his book to Penguin Random House for $5 million, as Page Six reported at the time. The autobiography, 'On Call: A Doctor's Journey in Public Service,' hit bookshelves in June 2024. That move coincided with revelations from a congressional memo that he 'prompted' a paper that dismissed the COVID lab leak theory. Last week, the White House rolled out a new webpage to promote the lab leak theory that posits that COVID-19 came from a lab in Wuhan, China. The website faults Fauci and promotes Trump. ' 'The Proximal Origin of SARS-CoV-2' publication — which was used repeatedly by public health officials and the media to discredit the lab leak theory — was prompted by Dr. Fauci to push the preferred narrative that COVID-19 originated naturally,' the website noted. Meanwhile, Fauci also landed a gig at Georgetown University as a distinguished university professor in July 2023. Beyond speaking engagements, Fauci notched $50,000 from Columbia University's Calderone Prize and $40,000 from the National Academy of Medicine's Lienhard Prize. His wife, Dr. Christine Grady, served in the NIH's bioethics department until this month. She earned a salary of about $243,749 in 2023. Health and Human Services Secretary Robert F. Kennedy Jr. has largely pushed out NIH employees who were close to Fauci, a central figure in his 2021 book about the 'global war on democracy and public health.' Fauci had served as the head of the NIAID, one of the 27 institutes that make up the NIH, from 1984 until 2022. After his retirement, Fauci benefited from taxpayer-funded security provided by the US marshals, something President Trump has since taken away from him. The cost of that clocked in at about $15 million between January 2023 and September 2024, according to a report from Open the Books and journalist Jordan Schachtel last year. 'They all made a lot of money. They can hire their own security, too,' Trump said in January after yanking funding away for Fauci's and other former officials' security. Fauci's lawyer has not responded to a Post request for comment. Originally published as Anthony Fauci's fortune doubled to $23 million between early 2019 and 2023, watchdog finds: 'During worst of COVID lockdowns'
Daily Mail
21-04-2025
- Health
- Daily Mail
Jaw-dropping spike in Fauci's fortune since COVID as fury grows over his attempts to suppress lab leak theory
Controversial health official Dr Anthony Fauci saw his net worth double in his first year of retirement from the US government. According to OpenTheBooks, a nonprofit watchdog that obtained his financial records, Dr Fauci and his wife, Dr Christine Grady, saw their combined financial assets climb to more than $3.5 million in 2023, bringing their total net worth to over $15 million. The former White House Chief Medical Advisor signed a lucrative deal for his memoir, On Call: A Doctor's Journey in Public Service, which went on to become a best-seller. He also cashed in on the speaking circuit, appearing at high-profile events since stepping down. Dr Fauci, who played a key role in managing the Covid-19 2020 pandemic in the US, was worth was about $7.6 million in January 2019. The doctor, who previously helmed the National Institute of Allergy and Infectious Diseases, left his post on January 6, 2023. While employed by the government, the 84-year-old had a paycheck for $480,654 during his final year - marking him as the highest paid bureaucrat in the White House. Despite his 2023 financial disclosures not specifying where the money he contributed came from, documents show Dr Fauci received multiple six-figure payments throughout 2023. The former top officials received $100,000 in April, May and in June, $150,000 in September as well as $700,000 in November 2023. While none of those transactions state why they were received, Dr Fauci did conduct speeches to special interest groups including the National Association of Chain Drug Stores in April and the American Health Insurance Plans in June 2023. He also sold his memoir for just under $5 million to Penguin Random House's Crown imprint after a two-week auction. The autobiography had hit shelves in June 2024. Reports of Dr Fauci's staggering net worth comes days after President Trump launched a new website and stated that the Covid pandemic originated in a Wuhan laboratory. The White House unveiled a new Covid-19 website – with a full-length image of President Trump and the banner 'The True Origins Of Covid-19 – which pointed the finger at Beijing and previous US administration figures for promoting the false claim that the pandemic started naturally in an animal market. The website said: 'Researchers at the Wuhan Institute of Virology became ill with Covid-like symptoms in the fall of 2019, months before Covid-19 was discovered in the animal market. 'The federal government demonized alternative treatments and disavowed narratives, such as the lab leak theory, in a shameful attempt to coerce and control the health decisions of the American people'. Noting the 'virus possesses a biological characteristic that is not found in nature', the website concludes: 'By nearly all measures of science, if there were evidence of a natural origin, it would have already surfaced. But it hasn't.' The White House also describes the response to the pandemic by the World Health Organisation as 'an abject failure' for caving to 'pressure from the Chinese Communist Party and placing China's political interests ahead of its international duties'. The website also accuses Dr Fauci of 'pushing the preferred narrative that COVID-19 originated in nature'. It also heavily criticizes the mask mandate, social distancing and lockdown - all of which had been backed by the former medical advisor.
