Is pork and waste an expression or an idiom? From the context where I picked it up, it seems to indicate that if something is "built with pork and waste" it means that some aspects of that built thing are badly and too expensively built. Is that correct?
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Pork is an American slang term derived from the term pork-barrel politics. It is associated with waste and possibly corruption as well. From NOAD:
See the Wikipedia entry for more info on history, etc. Excerpt: