Pork On the Web?

From Instapundit:

U.S. Senators Tom Coburn, M.D. (R-OK) and Barack Obama (D-IL) today announced the introduction of legislation that would publicly disclose all recipients of federal funding and financial assistance. The Federal Funding Accountability and Transparency Act (S. 2590) will allow taxpayers to see how their money is being spent, Dr. Coburn said.

The federal government awards roughly $300 billion in grants annually to 30,000 different organizations across the United States, according to the General Services Administration. This bill would require the Office of Management and Budget to establish and maintain a single public Web site that lists all entities receiving federal funds, including the name of each entity, the amount of federal funds the entity has received annually by program, and the location of the entity. All federal assistance must be posted within 30 days of such funding being awarded to an organization.

Of course, it would be better if the recipient organizations were required to place on the Web the names of ALL their Directors and Officers.