Government Waste Costs Taxpayers $16 Billion

Wednesday, 27 Mar 2013 02:49 PM

By Melanie Batley

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The federal government is wasting close to $16 billion a year in taxpayer money, often because agencies are mismanaging funds and even making payments to people who don’t qualify for a dime, much less the thousands they receive.

Business Insider scoured the most recent federal agency reports and identified some of the worst offenders.

In one instance, an estimated $208 million worth of single-family direct housing loans went to borrowers with poor credit or unstable work histories.

In another case, the Employment and Training Administration erroneously overpaid $148 million in government unemployment checks.

And the Business Insider discovered that $2.7 billion could be saved annually by simply analyzing how much Medicaid and Medicare should pay for wholesale prescription drugs.

The government employs an inspector general for every federal agency whose job it is to identify waste. Reports are submitted to Congress twice annually, and it’s up to Congress to decide what to do about it.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Scott Brown: Sen. Shaheen Will Support Obama's Amnesty Plan

Tuesday, 21 Oct 2014 07:02 AM

New Hampshire Republican senate candidate Scott Brown attacked Democratic incumbent Sen. Jeanne Shaheen for publicly dis . . .

Democrats Love Seeing Minimum Wage on the Ballot

Tuesday, 21 Oct 2014 06:37 AM

As Democrats across the country make an election-year push to raise the minimum wage, they often point to fast food work . . .

Michelle Nunn Uses Bush Photo in Ga. Senate Campaign Ad

Tuesday, 21 Oct 2014 06:37 AM

Michelle Nunn, the Democrat running for a Senate seat in Georgia, is using a photo of former President George H.W. Bush  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved