The report revealed that in the last two decades, improper payments have cost the federal government almost $2.4 trillion.
Federal Government Wastes Billions of Taxpayer Dollars ( Photo: Forbes )
The federal government of the United States wastes billions of dollars in taxpayer funds annually, with a total of $247 billion being spent incorrectly in 2022 alone
According to a report by the Government Accountability Office (GAO), the report also revealed that in the last two decades, improper payments have cost the federal government almost $2.4 trillion.
Richard Stern, a budget and spending expert from the Heritage Foundation, said that the government has lost “trillions and trillions” of dollars over the years, which were essentially “stolen” from hardworking Americans.
Moreover, non-profit and lawmakers’ oversight reports suggest that billions more are wasted annually, such as $1.7 billion spent on maintaining empty government buildings and $28 million invested in forest camouflage uniforms for use in the desert.
The problem is mainly due to the government’s approach to solving issues, with critics arguing that instead of trying to determine how to do something or how much it will cost, the solution is always “Go spend more money.”
Duplicated programs are also a cause for concern
The Government Accountability Office finds more of these programs every year in their annual report on duplicative and overlapping programs, according to Tom Schatz, president of Citizens Against Government Waste.
While the GAO is responsible for auditing and reporting wasteful spending, experts argue that it does not have enough manpower or resources to influence policy changes. The Brookings Institution’s Elaine Karmarck said that the GAO has enough power, but not enough resources.
The watchdog groups warn that wasteful spending by the government can have severe consequences for the economy, with inflation being a direct result of the government’s deficit spending. The government’s actions not only slow down economic growth but also mortgage the future of Americans.
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