Waste of the Day: Federal Government Loses Up to $521 Billion to Fraud Annually

This story originally was published by Real Clear Wire

By Adam Andrzejewski
Real Clear Wire

Topline: The federal government loses between $233 billion and $521 billion to fraud every year, according to a new study from the Government Accountability Office.

Key facts: The fraud losses represent 3 to 7 percent of the $40 trillion the federal government obligated from 2018 to 2022, a ratio the GAO says is comparable to other large governments like the U.K.

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