John Stossel
  • November 18, 2009 12:00 PM EST by John Stossel

    Government Makes Another $98 Billion in Improper Payments

    The federal government made $98 billion in questionable payments to contractors and individuals last year, the Obama administration said Tuesday, a sharp increase from the previous year.

    That’s from a Washington Post blog by Michael Fletcher last night.

    The Administration deserves credit for being the one to break this kind of news, especially as it comes on the heels of reports that the Administration reported “jobs” created in Congressional districts that don’t exist…as well as jobs that don’t exist. Also, White House Budget Director Peter Orzag’s explanation for the mistaken payments has some merit.  Well, at least the first part:

    Orszag said Tuesday night that new, stricter government methodology for identifying outlays is behind the sharp rise in improper payments, as is the large increase in federal spending to response to the deep economic downturn.

    If the “large increase in federal spending” has caused this sharp rise in mistaken payments, do you think, maybe, I don’t know, we should rein back the “large increase in federal spending”?

    Sen. Tom Carper (D-Del.), chairman of the Senate Subcommittee on Federal Fiscal Management…said in a statement. "It goes without saying that these results would be completely unacceptable in the private sector, as they should be in government."

    Yes, they would be completely unacceptable in the private sector. In government, it’s just par for the course.

D. Frank Robinson

It hasn't been about repaying debt since the Federal Reserve was created in 1913. It's about inflating money and credit to collect interest and income taxes. The debt is just something to facilitate the control of wealth by bankers. But you may have guessed that already. If not read Mises, the Austrian economist.

November 19, 2009 at 6:29 am

Aardvark

It is getting harder and harder to get worked up over these financial fiasco's. With the way money has been getting thrown around lately who can be surprised anymore? I think the real joke is on the countries lending us money who honestly think we are going to pay them back someday. Good luck with that! Especially the Chinese who are telling us to spend less. Let's see, if we spend less then we buy less from them throwing them into recession.

November 18, 2009 at 12:23 pm

About this Web Site

  • John Stossel joined FOX Business and FOX News in October 2009. His show, Stossel, airs on the Fox Business Network on Thursdays at 8 p.m. ET

    He is the New York Times best-selling author of Give Me A Break and Myths, Lies and Downright Stupidity. His "Give Me a Break" commentaries take a skeptical look at a wide array of issues, such as education, the economy, parenting, and more.

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