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Feds Blow $100 Billion Annually on Incorrect Payments
yahoo news ^ | 01/15/2014 | Rob Garver

Posted on 01/15/2014 10:10:10 AM PST by detective

Between 2002 and 2012, federal agencies spent more than half a trillion dollars ($688 billion) on payments that should never have been made.

Every year, according to their own recordkeeping, the agencies that administer major federal programs are now paying out more than $100 billion dollars improperly, and even though they’re aware of the problem, they recover only a tiny fraction for taxpayers. This adds up to huge losses for the U.S. Treasury.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Crime/Corruption; Government
KEYWORDS: federalgovernment
As the article says "according to their own recordkeeping". This is only what the government has identified and admits to. The actual amount is much higher. We will never know how much is due to error and incompetence and how much is theft.
1 posted on 01/15/2014 10:10:10 AM PST by detective
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