Tag: spending

Army Corps’ Spending Questioned

Environmental and consumer watchdogs have launched an all-out offensive against the U.S. Army Corps of Engineers in a new report. They say the Corps wastes taxpayer money on unnecessary projects, including some in the Great Lakes. The Great Lakes Radio Consortium’s David Sommerstein has more:

Transcript

Environmental and consumer watchdogs have launched an all-out offensive against the U.S.
Army Corps of Engineers in a new report. They say the Corps wastes taxpayer money on
unnecessary projects, including some in the Great Lakes. The Great Lakes Radio Consortium’s
David Sommerstein reports:


The U.S. Army Corps of Engineers has built some of the nation’s biggest marvels, from the
Hoover Dam to the St. Lawrence Seaway. But in recent years, the Corps has come under fire
from Congress and others for cooking the books to justify its own work. The latest charges come
in a report by the National Wildlife Federation and Taxpayers for Common Sense. The groups
identify 29 Corps projects they say gobble up federal money and destroy natural resources. Steve
Ellis is with Taxpayers for Common Sense. He says the agency must be reformed.


“In 2000, a huge scandal erupted on the upper Mississippi River that rocked the agency that
showed that they were manipulating data. We’re back debating this exact same project or a very
similar project now three years later. The Corps bears close observation and close watching.”


The groups also cite a St. Lawrence Seaway study they say is bent on wider and deeper channels
at a price of 15 billion dollars to taxpayers. Corps and Seaway officials say the study only looks
at the existing system, not expanding it.


For the Great Lakes Radio Consortium, I’m David Sommerstein.

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Socially Responsible Investing Catches On

The amount of money invested in so-called socially responsible mutual funds continues to grow. But as the Great Lakes Radio Consortium’s Bill Poorman reports, they’re still a small part of the big picture:

Transcript

The amount of money invested in so-called socially responsible mutual funds continues to grow.
But as the Great Lakes Radio Consortium’s Bill Poorman reports, they’re still a small part of the
big picture:


A report from the trade group the Social Investment Forum says holdings in socially responsible
mutual funds grew by eleven percent over the last couple of years. The amount now stands at
151 billion dollars. Todd Larsen is a spokesperson for the Forum. He says the industry has
grown dramatically since the group first added up the investments eight years ago.


“In our first report, we found there were 12 billion dollars in assets in socially responsible mutual
funds.”


Larsen says socially responsible funds have a variety of approaches. Some screen out entire
sectors of the economy.


“For example, perhaps, the oil industry might be screened out. In other funds, they’re doing a
best of class approach. So they’ll look at each industry and see which companies are the best within
that particular industry, and they’ll hold those companies.”


Even with the growth, socially responsible mutual funds are still only a tiny percentage of the
trillions of dollars invested in all funds.


For the Great Lakes Radio Consortium, I’m Bill Poorman.

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Mayors Push for Larger Role in Great Lakes Future

Mayors from around the eight Great Lakes states met in Chicago this month and delivered a unified message: They want a voice in the future of the Great Lakes. The Great Lakes Radio Consortium’s Mike Simonson reports:

Transcript

Mayors from around the eight Great Lakes states met in Chicago this month and delivered a
unified message: They want a voice in the future of the Great Lakes. The Great Lakes Radio
Consortium’s Mike Simonson reports:


The winter meeting of the Great Lakes Cities Initiative was hosted by Chicago Mayor Richard
Daly. Thirty-five Great Lakes mayors voted to push Congress to pass a 4-billion dollar clean-up
bill pending in the House. Superior Mayor Dave Ross says only the federal government has the
resources to do the job right.


“It’s a great burden on local governments and municipalities to take on the burden of water
quality because in any small cities such as Superior, that would be an enormous financial burden.
We certainly need financial help from outside sources, and of course the federal government
would be the prime source.”


Ross says mayors will lobby their members of Congress to support similar legislation in the
Senate.


“We can’t do it ourselves. We can’t do it alone. One new invasive species is being found in the
Great Lakes system each year. If this continues at the rate it is, we’re going to destroy the Great
Lakes.”


The mayors say until now local governments have been bypassed in Great Lakes decisions. Now
the mayors say they want to be part of the federal Great Lakes Advisory Board.


For the Great Lakes Radio Consortium, I’m Mike Simonson.

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