The GAO reported in April of 2024 that the federal government loses an estimated $233 to $521 billion annually to fraud. If these numbers are in the ballpark, two questions arise: How to detect the fraud, and once detected, how to avoid the allocation of fraudulent funds that Congress has already approved?
It is possible that if the numbers are confirmed, and the money not subsequently spent, that President Trump may be right stating that the federal debt may not be such an insurmountable problem as the $36 trillion number would suggest. Figure that every two to four years spending would be diminished by one trillion dollars by fraud detection alone.
Read Full Article »
