FEMA says it can't show return on $29 billion in spending

Federal Emergency Management Agency deputy administrator Timothy Manning told a congressional panel today that his organization had spent $5 million during the last 18 months reviewing how it spent $29 billion since 2002, but still doesn’t know what it got for the money.

Testifying before the House Homeland Security Emergency Communications subcommittee, Manning said he is confident the $29 billion was well-spent but “existing data tells us very little about the return on investment.”