A Government Accountability Office (GAO) report released Friday reveals that the start up, dubbed “18F,” spends about $1 million more each month than it recoups in revenue. By the end of fiscal year 2016, the federal technology firm will be $33 million in the hole. The General Services Administration manages 18F, which works through interagency contracts to consult on IT and digital development in federal agencies. In his second inaugural address, Obama laid out the directive to modernize federal agencies. As background, the GAO report lists four federal projects tasked with modernizing government in the past 20 years, costing between $127 million and $5 billion each.