> The Federal Funding Accountability and Transparency Act of 2006 (S. 2590)[2] is an Act of Congress that requires the full disclosure to the public of all entities or organizations receiving federal funds beginning in fiscal year (FY) 2007. The website USAspending.gov opened in December 2007 as a result of the act
Sen. Obama's office is the origin of this bill; which was fronted by Sens Coburn and McCain, who had the clout.
https://usaspending.gov/ creates a mandatory database with budgetary line item metadata. Where money actually goes is something that is far more transparent and accountable with bitcoin and other public ledgers than any existing ledger covered by bank secrecy laws.
For context, in 2008-09, global financial systems were failing as a result of the American economy: housing bubble burst, HFT "flash crash" that we didn't have CAT or big data tools to determine the cause of, DDOS attacks and cyber security losses increasing YoY, credit default swaps had been rated as AAA securities (they sold bundled bad debt like it was worth something, and then wrote down losses), Enron energy speculation amidst rolling blackouts that were leaving hospitals in the dark, on gas generators, government investments in renewables had been paltry since the Carter administration had put solar panels on the roof of the White House before the whole oil price shock, and oil commodity speculation had driven the price of oil to like 2-4x the 2000 price (with resultant price effects on most CPI inflation/PPP basket goods); but electricity consumption was down in 2008 and renewables hadn't reached production volumes necessary to reach the competitive price point that renewables now present: cheaper than nonrenewables.
Who would have thought that the speculative price would continue to exceed the production cost. incentives or penalties?
Externalities per dollar returned per kWh is one way to assess the total costs of electricity production methods.
"Buy Gold" was the refrain of the day: TV commercials, signs out in front of piano stores (a somewhat-arbitrary commodity, sales of which are observed to be a leading indicator of economic health), signs on the road. And the message was "take your money out the market and put it in gold" which drives up the prices for chips and boards and medical equipment that rely upon that commodity as a material input. Gold is necessary for tropical spec components in high-humidity environments: gold hinges are prized, for example.
But, "look, there's water flowing from the chocolate fountain; so you can go ahead and go" and "you know you want to put it back in there, in that market" we're the appropriate messages given our revenue at the time.