Feds Blow $100 Billion Annually On Incorrect Payments

 

 

 

 

” 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.

  In 2012 alone, the Office of Management and Budget gathered data on just 13 high-error programs in the federal government, and determined that they made a combined $101.3 billion in improper payments. To put that in perspective, that’s almost $16 billion more than the highly controversial budget sequester wound up cutting from government spending in 2013.”