Feds Report $2.7 Trillion in Improper Payments in Two Decades

The federal government reported hundreds of billions of taxpayer dollars in improper payments last fiscal year and trillions over the last two decades.

According to a new report from the Government Accountability Office, the federal government reported $236 billion in improper payments in fiscal year 2023. The true number, though, is actually much higher, but federal reporting is often lacking.

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House Republicans Raise Alarm over China’s Potential Use of U.S. Funds in Military Research

Rep. Cathy McMorris Rodgers

House Republicans are urging the Government Accountability Office, Congress’s nonpartisan watchdog, to investigate what safeguards the National Institutes of Health has in place to ensure China does not use research funds to bolster its military or unethically use humans in research studies.

“Recent reports have raised concerns about the NIH’s ability to screen for national security issues,” the Republicans, led by House Energy and Commerce Committee Chair Cathy McMorris Rodgers, Wa., wrote in a letter Tuesday to Government Accountability Office Comptroller Gene Dodaro.

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Johnson Proposes Ukraine Aid ‘Innovations’ Including Loans, Using Seized Russian Oligarch Money

House Speaker Mike Johnson

Speaker Mike Johnson, R-La., said he expects the House to move forward with an aid package that would provide support for Ukraine with “some important innovations,” which may include loans for the war-torn Eastern European nation and using seized assets from Russian oligarchs.

On Fox News’ “Sunday Night In America” Johnson appeared receptive to a plan that would offer Ukraine a loan rather than aid, as Congress has already approved $113 billion in response to Russia’s invasion since February 2022, per the Government Accountability Office.

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Congressional Watchdog Questions Reliability of U.S. Financial Statements, Cites ‘Serious Financial Management Problems at the Department of Defense’

The Pentagon

A Congressional watchdog said Friday that it was again unable to determine if the federal government’s consolidated financial statements were reliable.

The U.S. Government Accountability Office, which is Congress’s research arm, said it was hampered by “serious financial management problems at the Department of Defense,” problems in accounting for transactions between federal agencies, weaknesses in the process for preparing the statements and inadequate support for the cost of loan programs from the Small Business Administration and Department of Education.

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Sen. Rand Paul Proposes Fed Audit as Regional Bank Bailout Hits $141 Billion

Legislation offered by Sen. Rand Paul (R-Ky.), the “Federal Reserve Transparency Act of 2024,” would conduct an audit of the U.S. Federal Reserve by the Government Accountability Office (GAO) for the first time since the Dodd-Frank legislation of 2010 required an audit of the central bank’s purchases of mortgage-backed securities.

This time around, the GAO would look at the Fed’s entire balance sheet, including the recently enacted Bank Term Funding Program — now $141 billion according to the central bank’s latest H.4.1. release — that has been lending banks money in exchange for U.S. Treasuries after the spike in interest rates caused there to be a reported $620 billion of unreported losses including regional banks that experienced failures in the interest rate crunch.

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Feds Made $236 Billion in ‘Improper Payments’ Last Year

Congress Money

There were $236 billion worth of “improper payments” made under the Biden administration in fiscal year 2023 alone, more than double the amount in fiscal year 2013, Just the News has learned.

According to the Government Accountability Office, the potential for waste, fraud, and abuse from erroneous payments runs across the spectrum of federal agencies. 

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