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How the Federal Government Loses More Money Than Its Bean-Counters Can Count

m.knox

Well-Known Member
Gold Member
Aug 20, 2003
123,267
82,655
1
We need MORE government. Social justice and all that.....

Government is the biggest mark on Earth.

https://www.realclearinvestigations...than_its_bean-counters_can_count_1040722.html

Since 2003, cumulative estimates of improper payments by executive-branch agencies, which GAO reports show are on the low side just like the 2023 numbers, have reached $2.7 trillion. That’s equivalent to roughly 10% of everything produced in the U.S. this year.

The fiscal 2023 numbers were down 16% from fiscal 2021, when pandemic-related relief such as the Small Business Administration’s Paycheck Protection Program boosted improper payments to a peak of $281 billion. Fiscal 2023, however, still tops pre-COVID-19 amounts, the GAO said, and executive-branch watchdogs warn that they expect the numbers to increase with new spending related to programs like the Inflation Reduction Act, the Infrastructure Act, and the CHIPS Act.

“As programs get bigger, the likelihood of improper payments gets bigger, too,” said Hannah Padilla, the director in charge of the latest comprehensive GAO report. “That’s just math.”
 
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