Billions Wasted in Iraq

Government auditors report at least $10 billion in US taxpayer dollars wasted or lost to fraud in Iraq.

The Government Accountability Office says the problem is poised to get worse as the Bush administration widens America's presence in Iraq.

The GAO, Special Inspector General for Iraq Reconstruction, and the Defense Contract Audit Agency all had people testifying before Congress.

They found sloppy record keeping and contractors overcharging taxpayers for their work.

Of the $10 billion in waste and fraud they found -- Halliburton Co. was responsible for at least $2.7 billion.

The government watchdogs told Congress that for every six dollars spent on rebuilding Iraq, at least one dollar is going toward waste and fraud. (USA Today)