Report: Billions Wasted on Iraq Rebuilding

A report on your tax dollars being spent to help rebuilding efforts in Iraq has found that much of it has been wasted.

FOX News Radio’s Mike Majchrowitz reports from Washington:

The final report of the Inspector General for Iraq reconstruction paints a very bleak picture of the American money and effort spent there.  $60 billion dollars went into rebuilding Iraq’s infrastructure, government and economy, but the report concludes much of it was lost to waste, fraud and failure.

There were 82 convictions for fraud, and the report concludes the government has failed to put safeguards into place to prevent this from happening in the future.  Similar problems reported in Afghanistan, where so far $90 billion dollars has been spent on reconstruction.

In Washington, Mike Majchrowitz, FOX News Radio.