Government Equivalent of Sub-prime loans

The mortgage industry is besieged with the realization that the originators of sub-prime loans, who cashed out early and are somewhere warm counting their profits, have left them holding a bag of paper that can not be maintained by the loan holders.  In other words, now that the true cost of those mortgages must be paid, the loan holders find themselves unable to pay.

Government, fed and state, has a similar program for funding the initial capital and infrastructure costs of projects, like this one funded by the FBI to facilitate inter-agency communications.  More times than you would care to count, the local government recipients fail to budget for maintenance and operating costs to keep the new project functioning.

So, is this any way to run a business?

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