Taxpayer Burden
How much money is the federal government losing to fraud annually?
According to government accounting estimates cited in the clip, the U.S. federal government could be losing between $233 billion and $521 billion annually to fraud. These alarming figures come from an official government accounting organization that tracks financial mismanagement within federal programs. This massive scale of fraudulent spending significantly impacts U.S. taxpayers and contributes to the growing $2 trillion deficit, highlighting critical concerns about transparency and accountability in government spending.
Watch clip answer (00:17m)
Fox News
01:26 - 01:43
How much money is the federal government losing to fraud annually?
According to James Freeman of the Wall Street Journal, Democrats on the House Oversight Committee have acknowledged that government fraud amounts to more than $200 billion annually. The Government Accountability Office (GAO) estimates put the figure possibly over $500 billion per year. As confirmed in the clip, the federal government could be losing between $233 billion and $521 billion annually to various fraudulent activities. This significant acknowledgment from both political parties indicates a concerning level of financial malfeasance within federal programs that requires greater accountability and oversight.
Watch clip answer (00:45m)Fox News
00:52 - 01:37