IPFS News Link • TAXES: Federal
$1 Trillion In Federal Overpayments---Fraud In Medicare, Medicaid, EITC, Tax Refunds, Etc.
• davidstockmanscontracorner.comAnd the numbers keep getting bigger every year according to the Government Accountability Office.
Please consider GAO: Feds Made Nearly $1 Trillion in Overpayments Since Fiscal 2003.
Government waste took a significant turn for the worse in fiscal 2014, rising dramatically to $124.7 billion from $105.8 billion in fiscal 2013.
Since fiscal 2003, "cumulative improper payment estimates have totaled almost $1 trillion," the Government Accountability Office (GAO) said in a new report.
U.S. Comptroller General Gene Dodaro testified Thursday on the GAO's new findings (http://www.gao.gov/products/GAO-16-92T) before the Senate Finance Committee.
The GAO said three programs were most at fault: Medicare, Medicaid and the Earned Income Tax Credit (EITC).
The Earned Income Tax Credit program was the worst offender.