Political Quotes

“Madam President, the report was initiated by the Small Business Committee, and it found, among other things, that the Veterans Corporation failed to support Veterans Business Resource Centers; it had wasteful programs; it lacked outcome-based measurements; it provided its employees with unacceptably high executive compensation; it engaged in dubious expenditures; and it failed to properly raise the necessary funds to become self-sufficient, as they were required to do under the law. For example, our report concluded that the Veterans Corporation had spent only 15 percent of the Federal funding that it had received on Veterans Business Resource Centers, which the TVC was required to establish and maintain under law. In fact, in fiscal year 2008, the percentage dropped to about 9 percent. We also found that the executives at TVC received unacceptably high levels of compensation given the organization's limited resources and reach. While an average of 15 percent of the Veterans Corporation's federally appropriated funds went to the centers, 22 percent of the funds that were appropriated in 2007 were spent on its top two executives' compensation packages alone. Moreover, the organization miserably failed to raise the sufficient funds, as required by law, in order to develop self-sufficiency and independence from Federal appropriations.…”