One clarification: On the jobs that I worked with Spradlin we were a subcontractor. Therefore I know nothing about how those jobs were bid and, as far as I know, they were above board in billing, etc.
The point is that when a company is struggling it is one heck of a temptation to over-bill.
Another thing to remember is that Spradlin had some real costs in doing this work. Not everything they got awarded was profit.
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Obama's victory came from those who wanted him to change Washington, not America.