OldWorldOrder
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So in the beginning of your post you admit that they don't have oversight and at the end of your post you say they have oversight, talk about doublethink. Nevertheless, Congress does not have oversight: they have the appearance of oversight. As the Snowden revelations have illustrated, there were plenty of Congressmen and Congresswomen out of the loop entirely, even on the Intelligence Committees. The reason being, only certain members, the so-called gang of eight, are read-in on most stuff, but most still isn't everything. And since they aren't read-in on everything the IC, Pentagon or everyone else does, that's not oversight.
Oversight - Noun
Management by overseeing the performance or operation of a person or group.
Overseeing - Verb
Watch and direct.
Congress watches directly. Not all of them. The institution. This isn't debatable.