This is what they are doing with our money. Obama talks about shared sacrifice? For what, this? When times are tough like they are right now, average folks like us must sacrifice things we like for what we need. I did, I cut the cable, high speed internet and even the HD TV got sold. Try to tell that to liberal Democrats that want to raise your taxes for junk like the above. They take your hard earned money, flush it down the commode, then have the unmitigated gall to come back and tell you they are going to raise your taxes because they need MORE! Nov 2012 is coming, it's your chance to tell the big spending Democrats in Washington, "Hey pal, you'll get no more from me till you fix the waste, fraud and abuse", like the above. They are spending your great grand kids into slavery to the debt created today.Million-Dollar Wasteland: A Washington Post Investigation
A trail of stalled or abandoned HUD projects
By Debbie Cenziper and Jonathan Mummolo, Published: May 14
The federal government’s largest housing construction program for the poor has squandered hundreds of millions of dollars on stalled or abandoned projects and routinely failed to crack down on derelict developers or the local housing agencies that funded them.
Nationwide, nearly 700 projects awarded $400 million have been idling for years, a Washington Post investigation found. Some have languished for a decade or longer even as much of the country struggles with record-high foreclosures and a dramatic loss of affordable housing.
The U.S. Department of Housing and Urban Development, which oversees the nation’s housing fund, has largely looked the other way: It does not track the pace of construction and often fails to spot defunct deals, instead trusting local agencies to police projects.
The result is a trail of failed developments in every corner of the country. Fields where apartment complexes were promised are empty and neglected. Houses that were supposed to be renovated are boarded up and crumbling, eyesores in decaying neighborhoods.
In Inglewood, Calif., a sprawling, overgrown lot two blocks from city hall frustrates senior citizens who were promised a state-of-the-art housing complex more than four years ago. Although the city invested $2 million in HUD funds, the developer doesn’t have the financing to move forward.
In Newark, two partially completed duplexes sit empty in a neighborhood blighted by boarded-up homes lost to foreclosure. The city paid nearly $400,000 to build the houses, but after a decade of delays, the developer folded and never finished. The money has not been repaid.