WHAT WASTE

How much fraud is there in the federal government? A GAO report dated 4/24, pre-Trump, suggests somewhere between $233 billion and $521 billion in direct annual financial losses from fraud, based on a review of FY18-FY22 data. The report finds Treasury suffers the greatest percentage of fraud, with it consuming 23.87% of its budget, followed by Labor at 11.68%, then VA at 10.33%. Defense is at 1.85%, or $20 billion/year.