GOP blasts $215M cost for consumer bureau office with waterfall

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The Hill:

Republican lawmakers blasted renovation plans for the Consumer Financial Protection Bureau’s headquarters after an inspector general report said costs could top $215 million.

 

Federal Reserve inspector general Mark Bialek wrote that a "sound business case" cannot be made for renovating the building the agency rents at 1700 G St. NW, near the White House.

 

When first announced four years ago, the renovation project had a $55 million pricetag. By 2012, the CFPB revised the projected cost to $95 million and again last year raised the estimate to $150.8 million.

The CFPB's renovations, which include a four-story glass staircase, two-story waterfall and a sunken garden, have angered House Republicans who say the agency is being wasteful with taxpayers' money.

“When they passed the Dodd-Frank Act, Democrats in Congress and the White House made the CFPB unaccountable to taxpayers and to Congress," House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said in a statement.

"We’re seeing the results of this dangerous unaccountability today in a Washington bureaucracy that is running amok, spending as much as it wants on whatever it wants,” he continued. “It’s outrageous.”

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3 World-Famous Landmarks That Cost Less Per Square Foot Than This Government Building

http://dailysignal.com/2014/07/03/3-world-famous-landmarks-cost-less-per-square-foot-government-building/