You know if the feds are admitting to $2.3 trillion, the real number is at least twice that. From Adam Andrzejewski at zerohedge.com:
Since 2004, twenty large federal agencies have admitted to disbursing an astonishing $2.25 trillion in improper payments. Last year, these improper payments totaled $175 billion – that’s about $15 billion per month, $500 million per day, and $1 million a minute.
But what exactly is an improper payment?
Federal law defines the term as “payments made by the government to the wrong person, in the wrong amount, or for the wrong reason.”
When people or companies receive incorrect payments, it erodes trust and hinders the government’s ability to finance everything from defense to health care.
Recently, auditors at OpenTheBooks.com published a 24-page oversight report analyzing why, how, and where federal agencies wasted our tax dollars last year.
Here are the top 10 takeaways regarding improper and mistaken payments by the 20 largest federal agencies in 2019: