I think they are trying to buy it all up so regular gun buffs cannot locate ammo.
Also, the waste of taxpayers’ money is outrageous
I share that theory with you. However, they're underestimating the ability of the manufacturers to create new ammo. After all, they've been on steady production ramp-up since November 2008.
I think it’s a bit more sinister than that although that’s bad enough. .40S&W is practically the standard round for hand guns used by a huge chunk of police around the country, namely in the Glock 22.
I can only hope this is the case. Then, when we get a president who thinks it is dumb for these agencies to have a bunch of stockpiled ammo. Well, can you say...
Cheap surplus ammo! Woohoooooo!