"$250,000 limits on Credit cards?!?!?!?"
Unbelieveable, isn't it? I wonder how much of that $ is already gone.
"$250,000 limits on Credit cards?!?!?!?"
What this means is federal procurement officers can spend up to $250,000 without filing paperwork to seek permission for such expenditures. The limit used to be $2500, but people complained this created endless red tape, and slowed the government down. They still have budgets, all this does is change the way they spend can the money.
In most cases I think the high limit is excessive, and invites fraud, but during a massive reconstruction project it would be almost impossible to operate under the $2500 limit. Responsibility people need the flexibility to "get it done" without having to clear expenses with bureaucrats in Washington every 5 minutes.
This would take forever. Unfortunately, I haven't seen much responsibility associated with this effort as of yet. They definitely need a CFO to make sure the money is being spent wisely, on efficient projects that will get the region back to where it needs to be.