Friday, November 15, 2024

Waste and fraud

Vivek and Elon have been given the unenviable task of cutting the fat from the federal budget. The budget is $6.74 trillion and 49% of that is in social security, Medicare and Medicaid. Another 14% for interest and 18% for defense which doesn't leave much left for cutting so the big savings will be in more efficient use of funds and reduction in fraud. They can start by cutting pork, those individual expenditures that receive all the negative publicity but then they will have to turn their attention to the the much bigger problem which is the inefficiencies, called waste and fraud, estimated to be one trillion per year. Even if they only partially succeed in cutting the process will make Americans more aware of how poorly the government spends the taxpayers money. This has been tried before without much success but this is the first time businessmen outside of government have had a go at it. We shall see.

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