Best deal in the world.

So the big O is promising to re-write the no-bid contracting rules. Good riddance. One of the most ridiculous creations in the last era was the cost + contracts. These were the contracts where Dick Cheney and his company were promised that they would be reimbursed for whatever it cost them to complete the work PLUS a guaranteed percentage of profit on top of that. So Cheney's minions had incentives to increase the costs as much as possible. Why ship 10 Hummers when you could ship 100? They could charge the government some price (I'm sure was much greater than the actual cost they paid) And then a 20% profit on 100 Hummers was definitely better than a 20% on 10 of them. Does anyone not see this as a formula to rob tax payers blind? I've negotiated lots of contracts in my life, but I've never seen such a great deal. I've also never shot anyone with a duck hunting rifle.

And yes, this sort of thing plays directly into why we're in the economic straits we're in right now.