Tuesday, May 24, 2016

Federal Government Waste Exploded Under Obama

Big Government: The federal government wasted more than $100 billion on overpayments last year. It knows this, even tracks it, but somehow can’t seem to stop it. Is there a better indication that government is too big?
A federal website called Payment Accuracy tracks in great detail what it calls “improper payments” made by the federal government through Medicare, Medicaid, farm programs, school lunch programs and others to contractors, doctors, students, and so on.
Last year, the government made $126 billion in overpayments, nearly double the amount of made in President Bush’s last year.
Improper payments in Medicare, for example, went from $10 billion in 2008 to $43 billion last year; and for Medicaid, the figured jumped from $19 billion to $29 billion.
The Payment Accuracy site notes that the government also underpaid by $11 billion last year. Still, at $115 billion, the net overpayment just in 2015 is massive.
There goes your Tax Dollars
It is, for example, equal to the combined budgets of the Departments of Justice, Energy, Interior, State and the EPA for 2015.
It’s twice as much all the income taxes paid by everyone making less than $50,000.
It’s roughly equal to the combined 2015 profits of Apple, Exxon Mobil, Wal-Mart, Google, Pfizer and Comcast.
Read the rest of this IBD editorial HERE.

If you like what you see, please "Like" us on Facebook either here or here. Please follow us on Twitter here.

No comments: