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New York Post
  • 1 week ago
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00:00Treasury Secretary Scott Besant has some alarming news about the extent of fraud,
00:04waste, and abuse of federal funds. He says close to 10 percent of the federal budget,
00:09which is upwards of $500 billion, is lost every year. When asked about paying for President
00:16Trump's massive new defense budget, remember the commander-in-chief asked for a 66 percent
00:21increase last week, the Treasury Secretary had this to say during an interview with
00:25journalist Christopher Ruffo. If we need to flex up our military budget, if we can get rid of this
00:31waste, fraud, and abuse, we can finance a safer, sounder U.S. with that, without taking on more
00:38debt. It sounds a pretty good outcome to me. Besant was signing a report from the Government
00:44Accountability Office that found somewhere between $233 billion and $521 billion is lost to fraud
00:51every year. Of course, there's been renewed attention to the issue after the headlines
00:56out of Minnesota regarding the massive fraud scheme there, with more accusations of fraud
01:01coming nearly every week, it seems, most recently pointing at states like California. Vice President
01:06J.D. Vance announced last week that the Justice Department will be creating a new position to
01:11lead fraud probes nationwide.
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