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The federal government reported $236 billion in improper payments in fiscal year 2023, with the vast majority coming from overpayments, according to a new watchdog report.
A U.S. Government Accountability Office report found 74% of improper payments – payments that shouldn’t have been made or were made in the wrong amount – were overpayments. Overpayments accounted for $175.1 billion of the total amount of improper payments in 2023. Overpayments are payments “in excess of what is due, and for which the excess amount, in theory, should or could be recovered,” according to the report.
Underpayments accounted for $11.5 billion of the total, or about 5% of the total. Another category is unknown payments, which are those that an agency “cannot determine to be either proper or improper because of insufficient or lack of documentation.”
“Improper payments are a long-standing and significant problem in the federal government,” according to the GAO report. […]
— Read More: justthenews.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
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