A federal $100 billion wasted is leaving some in the U.S. public understandably unhappy this week, as the Office of Management and Budget has recently alleged that the federal government made a total of $101.3 billion in what are being called “improper payments.” These overpayments stem from a variety of sources, including too much given to Social Security insurance recipients. NewsMax shares how the government is said to have a very slim chance of ever getting back those wrongfully given SS and other funds this Thursday, Jan. 16, 2014.
The federal $100 billion lost in recent months has brought to the public spotlight a number of political and financial reports citing instances of these government overpayments. U.S. Sen. Rob Portman revealed this Sept. 2013 in a Government Accountability Office statement that over $1 billion in improper imbursements alone had been given to Social Security Disability Insurance recipients, dating back to early Jan.
"As we approach the debate over funding the government, President Obama and Congressional Democrats continue to propose tax increases to close the budget deficit rather than paring back unnecessary spending," Portman said on the federal discrepancy. "Washington has no right to demand new taxes from families and workers while continuing to lose billions of dollars in government waste."
According to the press release, Social Security Insurance is meant to provide financial assistance to people who are disabled to a certain degree in which they are unable to earn a significant income for themselves or their family. A vast majority of overpayments coming from these unwarranted SSDI and related benefits originated from money being given to those who were already making the minimum levels of “significant income” during the application process and waiting session.
The Department of Health and Human Services has also contributed to this federal $100 billion wasted, continues the report, giving nearly $56 billion in overpayments during last year’s fiscal 12-month period within its seven programs. These include improper compensations given under Medicare’s fee for service initiative, Medicare Part C errors as part of its supplementary insurance program, and others.
The conclusion of the press release notes that if more attention were given to the over-spending allotted to SS insurance recipients and Medicare issues by the government, the U.S. nation could literally save dozens of billions of dollars in the coming years.