DYSPEPSIA GENERATION

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Yesterday, news broke that Elon Musk and Vivek Ramaswamy will lead a newly formed Department of Government Efficiency (DOGE) focused on radically restructuring federal spending during Donald Trump’s presidency. What parts of government will be some of the easiest targets?

Using data from the OMB, 24/7 Wall St. identified the government agencies wasting the most taxpayer money. The 13 federal agencies on this list are ranked by the dollar value of overpayments made in the government’s 2023 fiscal year. All supplemental data in this story also came from the OMB report. Among these agencies, overpayments range from about $16 million to nearly $99 billion.

While some of this money is recoverable, taxpayers are ultimately on the hook for much of that wasted spending. The agencies on this list recovered a reported $25.2 billion in improperly made payments in fiscal 2023, some share of which was paid in error in a previous year. Still, this amounts to only about 14% of the total overpayments made in 2023. (These are the companies that receive the most in government subsidies.)

This entry was posted on Wednesday, November 13th, 2024 at 14:57 and is filed under Your tax dollars at work - and play.. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.