"The best present we could give the American people is to build an airtight 'Do Not Pay' list that stops the checks from going out the door."
Stephen Moore: Unleash Prosperity Hotline – Iowa Senator Joni Ernst chaired a hearing last week revealing that federal agencies shoveled out $162 billion in improper payments last year. That's billions with a B.
Federal programs that loan out money to "socially and economically disadvantaged businesses" were a rich target for fraudsters, a particular magnet for fraudsters.
The Feds even lent out money to scam artists who used pictures of dolls for IDs. As Ernst puts it: "Imagine giving Barbie or Ken a taxpayer-funded loan."
Scamsters who claimed to be over 115 years old scored loans worth $333 million, including $36,000 to a 157-year-old.
Auditors also found that $79 billion - nearly half of the improper payments - could have been prevented if simple fraud-detection questions had been asked of applicants:
- One, is the applicant's Social Security Number valid?
- Two, does the name connected to that number match the name on the application?
- Three, does the birthday match?
- And lastly, is the individual alive?
"The Christmas story about the Ghost of Christmas Past is all too real at Social Security, which paid out tax dollars to actual ghosts," Ernst noted at the hearing. "The best present we could give the American people is to build an airtight 'Do Not Pay' list that stops the checks from going out the door."
