Ok, here's a story from Forbes in 2012 about VC success. It says: "Over both 10- and 30-year periods, share of dollars invested that go to losing deals has been roughly 55%.".
So do you think that failure rate is a proper measure of the success of a government program?
When the VCs are willing to make risky bets, such that around 55% of their attempted deals fail
I didn't say "the government gives itself an A+". In any large organization waste is inevitable. I see it where I work which is a subsidiary of a large company. All you can do is try to minimize it.
Of course you didn't. I interpreted your use of Congress's metric of 12% as a measure of success of government activity.
If they said 100% failure was acceptable, would that still be any good? The 12% is unjustified. The 7% is meaningless without justifying the first number.