March 30, 2024
A quarter-trillion dollars, vaporized
By Gerald McGlothlin
In a revelation that may unsettle many taxpayers, the U.S. Government Accountability Office (GAO) has brought to light a staggering figure of $236 billion in improper or incorrect payments made under the Biden administration last year alone. This sum, which does not even fully account for all susceptible programs, indicates a level of fiscal mismanagement that demands immediate attention and action.
The breakdown provided by the GAO is particularly alarming, with Medicare and Medicaid together accounting for nearly $100 billion of this colossal waste. Such figures not only represent a “material deficiency or weakness in internal controls” within these agencies, but also signal a broader issue of accountability and efficiency within the administration’s handling of taxpayer dollars.
Improper payments, as defined by the GAO, include those that should not have been made or were made in incorrect amounts. This encompasses a wide array of errors, from administrative oversight to fraudulent claims, each contributing to the hemorrhaging of public funds at an unprecedented scale. With Federal Pandemic Unemployment Assistance, the Earned Income Tax Credit, and Paycheck Protection Program Loan Forgiveness also contributing tens of billions to the total, the extent of misallocated or mishandled funds spans across several critical sectors of government aid and support programs.
https://www.americanthinker.com/blog/2024/03/a_quarter_trillion_dollars_vaporized.html
