Big Government: The federal government wasted more than $100 billion on over payments last year. It knows this, even tracks it, but somehow can’t seem to stop it. Is there a better indication that government is too big?
A federal website called Payment Accuracy tracks in great detail what it calls “improper payments” made by the federal government through Medicare, Medicaid, farm programs, school lunch programs and others to contractors, doctors, students, and so on.
Last year, the government made $126 billion in over payments, nearly double the amount of made in President Bush’s last year.
Improper payments in Medicare, for example, went from $10 billion in 2008 to $43 billion last year; and for Medicaid, the figured jumped from $19 billion to $29 billion.
The Payment Accuracy site notes that the government also underpaid by $11 billion last year. Still, at $115 billion, the net overpayment just in 2015 is massive.
It is, for example, equal to the combined budgets of the Departments of Justice, Energy, Interior, State and the EPA for 2015.
It’s twice as much all the income taxes paid by everyone making less than $50,000.
It’s roughly equal to the combined 2015 profits of Apple, Exxon Mobil, Wal-Mart, Google, Pfizer and Comcast.
The Payment Accuracy site also notes that for some programs, improper payments account for a substantial share of their budgets. They account for 23% of the Department of Agriculture’s school breakfast program, for example, and almost 24% of the money handed out through the Earned Income Tax Credit program. Almost 10% of Medicaid’s budget is made up of improper payments
(Excerpt) Read more at investors.com …