It's an outrage that so much public money should have been wasted in this way.

outrage 由前缀 out-（表示"超出"）和 rage（愤怒）组成，字面意思是"超出正常范围的愤怒"，引申为"暴行、愤慨"的意思。在句中指"令人极度愤怒的行为或事件"。