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More on government waste
Member No.: 14
Joined: 25-January 06
|More than $98 billion in taxpayer dollars spent by government agencies was wasted, much of it on questionable claims for tax credits and Medicare benefits, representing an increase of $26 billion from the previous year. In all, about 5 percent of spending in federal programs in fiscal year 2009 was improper. |
|In the 2009 report, the government officially reported questionable Medicare payments of roughly $36 billion, but that amount will be revised upward to about $48 billion next year as the Health and Human Services Department fully converts to a new methodology that imposes stricter documentation requirements.|
|Sen. Tom Carper, D-Del., who chairs a Senate panel on federal financial management, said he worried that the latest numbers "may still be just the tip of the iceberg" since they don't include estimates for several programs such as the Medicare prescription drug plan.|
Not sure which is the scariest:
1)That $98 billion was wasted.
2)That 1 out of every 20 dollars spent by the Feds was either ineptitude or corruption
3)That $98 billion wasted represents only 1/20th of what we're spending, or
4)That these numbers are likely underestimating how bad it really is.
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