President Obama's Statement on the IRS Report: 'Intolerable and Inexcusable'

'The bottom line is, it was wrong'
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The Treasury Inspector General issued a report today finding the IRS used "inappropriate criteria" to target conservative groups. Long story very short: In response to a surge in 501(c)(4) applications, some IRS officials took short-cuts to determine if the organizations were acting in an overtly political manner, which would violate their tax-free status. The IRS told the group to use fairer and less politically charged criteria. And they didn't.

Here is the president's response to today's report (via Ryan Lizza)

Screen Shot 2013-05-14 at 8.50.11 PM.png

Here is the summary of the Inspector General report:

Highlights of Inspector General report on IRS targeting of conservative groups

And here is the report in full:

Inspector General report on IRS targeting conservative groups

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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