tomder55
Jun 15, 2023, 03:59 PM
$4.2 trillion of your monopoly bucks was given away by your benevolent masters due to the covid crisis .
A new report says that more than $400 billion of it was either stolen or wasted ....and the figure is likely to grow,
An Associated Press analysis found that fraudsters potentially stole more than $280 billion in COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents 10% of the $4.2 trillion the U.S. government has so far disbursed in COVID relief aid.
That number is certain to grow as investigators dig deeper into thousands of potential schemes.
The Great Grift: How billions in COVID-19 relief aid was stolen or wasted | AP News (https://apnews.com/article/pandemic-fraud-waste-billions-small-business-labor-fb1d9a9eb24857efbe4611344311ae78)
It gets better
Remember that Payroll Protection Plan( PPP)
"only 23 to 34 percent of the [PPP's] funds went directly to workers who would have otherwise lost their jobs."
w29669.pdf (nber.org) (https://www.nber.org/system/files/working_papers/w29669/w29669.pdf)
US taxpayers shelled out $4 for every $1 that went to workers under the PPP according to the St Louis Federal Reserve .
Was the Paycheck Protection Program Effective? (stlouisfed.org) (https://www.stlouisfed.org/publications/regional-economist/2022/jul/was-paycheck-protection-program-effective)
When Quid Pro Joe starts throwing mega taxpayer bucks around the first question should be is how much goes to the "Big Guy " and his cronies ?
A new report says that more than $400 billion of it was either stolen or wasted ....and the figure is likely to grow,
An Associated Press analysis found that fraudsters potentially stole more than $280 billion in COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents 10% of the $4.2 trillion the U.S. government has so far disbursed in COVID relief aid.
That number is certain to grow as investigators dig deeper into thousands of potential schemes.
The Great Grift: How billions in COVID-19 relief aid was stolen or wasted | AP News (https://apnews.com/article/pandemic-fraud-waste-billions-small-business-labor-fb1d9a9eb24857efbe4611344311ae78)
It gets better
Remember that Payroll Protection Plan( PPP)
"only 23 to 34 percent of the [PPP's] funds went directly to workers who would have otherwise lost their jobs."
w29669.pdf (nber.org) (https://www.nber.org/system/files/working_papers/w29669/w29669.pdf)
US taxpayers shelled out $4 for every $1 that went to workers under the PPP according to the St Louis Federal Reserve .
Was the Paycheck Protection Program Effective? (stlouisfed.org) (https://www.stlouisfed.org/publications/regional-economist/2022/jul/was-paycheck-protection-program-effective)
When Quid Pro Joe starts throwing mega taxpayer bucks around the first question should be is how much goes to the "Big Guy " and his cronies ?