Government Waste Costs Taxpayers $16 Billion

Wednesday, 27 Mar 2013 02:49 PM

By Melanie Batley

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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.

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