DATA Act Passes the House [was One Day at Bandwagon Camp…]

Update (nearly two years later to the day):

My comments to a colleague over at ATCA on Yammer:

H.R. 2146 The DATA Act passed the House yesterday. Mark Warner is scheduled to introduce the companion bill in the Senate today. A synosis from an AP piece: On a voice vote, the House backed the Digital Accountability and Transparency Act, known as the DATA Act. The legislation would establish uniform standards for all recipients to report federal money and set up a single website where average Americans could search for information on how government agencies, departments and other recipients spend federal funds.

Read more: AP blurb on Foxnews

#Occupy needs to be on this ferociously. Extensible business reporting language (XBRL — pronounced “ecks burl”) is growing as a global accounting and reporting technology and the various accounting standards boards are bringing their standard vocabularies (taxonomies) into alignment. The question is: once #Occupy can identify wrong doing, do they have a legal fund and PAC strategy to pursue it? Notably, the National Governors Association came out against DATA ostensibly because it is filled with unfunded federal mandates. Point well taken. But the amount of savings each State would accrue by putting XBRL into their “data chains” would create so many efficiencies and cost savings it would be hard to anticipate at this point. However, it would also allow for apples to apples comparisons of States’ programs and we would know within a very short time who is overpaying and who is getting the graft, kickbacks, sweetheart deals, etc.

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From April, 2010:

<ed.note>I made some comments on Facebook re: where were the Tea Partiers when Bush was… Does anyone remember the Reform Party? http://en.wikipedia.org/wiki/United_We_Stand_America – this strain of “we want accountability from our government” never disappears and manifests itself in a variety of ways. The Tea Partiers (and anyone else interested in government accountability) would do well to concentrate on the necessary technology — begin with requiring your politician (whatever party) to commit to open budgets expressed using extensible business reporting language (XBRL) http://en.wikipedia.org/wiki/Extensible_Business_Reporting_Language I would also do well to point out that both political and financial press are afraid to cover this technology as it applies to realpolitik… [update] and realeconomik[update] .</ed.note>