There is a difference between saying "we spent $1 billion but have no invoices, purchase orders, work orders, pay stubs, accounting codes or other data to show us how much of that $1 billion went to which entities and for what purpose", and saying "we have all of that data and can tell you where every penny went and for what purpose, but we cannot tell you how good a job they ended up doing on the things we paid them to do". Both are bad, obviously, but the former is completely unforgivable.
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"The great promise of the Internet was that more information would automatically yield better decisions. The great disappointment is that more information actually yields more possibilities to confirm what you already believed anyway." - Brian Eno
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