The recent announcement by the Congressional Budget Office (CBO) revealed that the federal budget deficit for the 2024 fiscal year was $1.8 trillion, highlighting the Biden-Harris administration as the most significant deficit spenders in modern history. According to the Government Accountability Office (GAO), this administration squandered around $1 trillion, surpassing any other in terms of wasteful spending.
Over the span of four years, the Biden-Harris deficit total reached $7.65 trillion, which was significantly higher than Donald Trump’s $5.56 trillion total. Despite attributing some deficit spending to the pandemic, Biden utilized it as an excuse to distribute money he was eager to spend regardless.
Efforts in minimizing fraud and waste were crucial, and here Biden-Harris truly faltered. The GAO’s “improper payments” assessment last April reflected that this administration squandered more taxpayer money compared to any preceding one.
The improper payments, which consist of both errors and fraud instances, were substantial. Medicare and Medicaid, Pandemic Unemployment Assistance, Earned Income Tax Credit, and the Paycheck Protection loan forgiveness program accounted for billions in improper payments during FY2023. Comparing Trump and Biden, the magnitude of improper payments significantly increased in the latter’s administration.
Various fraud instances in health care were exposed, underscoring the rampant misuse of taxpayer funds. It is imperative to address and curtail improper payments, which inevitably stem from expansive government spending. Biden and Harris’s administration overlooked this issue, leading to massive wastage of taxpayer money.
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