Source: Independent Institute
by Craig Eyermann
“No matter how you slice it, the U.S. government has a major fraud problem. The federal government’s watchdog agency, the General Accounting Office (GAO), estimates that about half a trillion dollars will be lost to fraud this year. Let’s put that number a little differently. In February 2026, just three months ago, the Congressional Budget Office projected the U.S. government would spend a net total of $7.448 trillion this year. Half a trillion dollars is about 1 out of every 15 dollars the federal government will spend in 2026. The GAO says Washington, D.C.’s politicians and bureaucrats might as well just flush that money down a bottomless sewer. Why not? If they did, they would have just as much to show for it.” (05/05/26)
https://www.independent.org/article/2026/05/05/steps-solve-massive-problems-fraud/