skip to main |
skip to sidebar
Government Waste Continues
From Nicole Kaeding of Cato.
"Earlier this week, I noted that some Inspectors General provide
insufficient oversight of federal government activities. They should be
more aggressive in uncovering waste and abuse in federal agencies.
Nonetheless, many Inspectors General issue helpful reports that alert
Congress and the public to wrongdoing. Here is a sampling of recent
reports showing the widespread mishandling of federal tax dollars:
- Internal Revenue Service (IRS): Tax fraud by incarcerated individuals amounted to $1 billion in 2012, growing from $166 million in 2007. One inmate defrauded the government of $4 million over a 10-year period.
- Department of Homeland Security (DHS): The Inspector General for DHS issued a new report
highlighting 68 ways that the agency has wasted tax dollars. The list
includes a $1.5 billion cost overrun for construction of the agency’s
new headquarters, FEMA’s botched handling of relief for Hurricanes
Katrina and Isaac, DHS employees claiming unearned overtime, and
insufficient oversight of DHS’s procurement processes.
- Housing and Urban Development (HUD): According to HUD’s Inspector General, New York City misspent
$183 million it received from the federal government to rebuild
hospitals following Hurricane Sandy. The city used the funds for
employee pay and benefits, which were not allowable grant expenses.
- Drug Enforcement Agency (DEA): Over the course of 20 years, the DEA allowed
an individual running a Ponzi scheme to conduct onsite investment
training for employees. The trainer, Kenneth McLeod, used the seminars
to solicit clients for his bond investment fund, which promised
risk-free returns of 8 to 10 percent. More than half of McLeod’s 130
investors came from the DEA. The Inspector General cites DEA for
numerous oversight lapses including failing to verify McLeod’s
credentials.
Even with the recent politicization of some Inspector General
reports, the reports can be useful to illuminate waste, mismanagement,
and fraud within the federal government."
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.