Washington, D.C. – The following is a written statement by Steve Ellis, Vice President for Programs at Taxpayers for Common Sense in response to the House of Representatives voting down an amendment to cut spending from $8 million to $300,000 for the Delaware Deepening project:

Congress today boosted spending for a project that is a known economic loser and an astronomical waste of federal resources. The $8 million passed today was only a small initial payment on a $400 million tab that the Corps of Engineers is attempting to justify with fuzzy math and exaggerated project benefits. Despite a record $455 billion deficit, Congress has ignored its fiduciary responsibilities by increasing spending for this project.

The deepening is one of the most wasteful water projects in the country. Don't just take my word for it, the General Accounting Office found that the project would return less than 50 cents for every dollar invested. However, you have to give the Corps credit – they don't take no for an answer, and they found a way to manipulate the data in order to shoehorn a boondoggle into the cost-justified box. A subsequent review by an independent economist found that, yet again, the more than $400 million in project costs will exceed the few, speculative benefits. With so many water resource needs around the country being cramped by a budget deficit, boosting money for this boondoggle is an insult to common sense.