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Headline of the Day

From The Wall Street Journal:

Well, let’s see how that “drive for efficiency” is going so far.

Paycheck Protection Program: $80 billion stolen, fraud rate of 10%

Earned income tax credit fraud, March 2023: “IRS estimates that between 21 percent to 26 percent of EITC claims are paid in error. Some of the errors are unintentional caused by the complexity of the law, but some of the claims are intentional disregard of the law.”

Unemployment Insurance: “The Department of Labor’s (DOL) Inspector General estimates there may have been “at least $191 billion” in improper or fraudulent pandemic UI payments.”

SBA Loans: SBA handed out over $80 billion in potentially fraudulent loans

Medicare and Medicaid Fraud: CNBC reports – criminals brazenly steal $100 billion from Medicare and Medicaid each year.

Total Covid fraud: NBC News “total fraud in all Covid relief funds amounts to a mind-boggling sum of taxpayer money that could rival the $579 billion in federal funds.”

Other than that, not a penny is being misspent. Great job Joe. You’re a modern McGruff the Crime Dog.

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