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More than $87 billion in federal benefits siphoned from unemployment system, says Labor Department
CNBC ^ | December 2, 2021 | Greg Iacurci

Posted on 12/02/2021 10:08:57 AM PST by John W

More than $87 billion in unemployment benefits funded by the federal government was likely siphoned from the system during the Covid-19 pandemic, much of it due to fraud, according to a U.S. Department of Labor report.

Congress authorized many new programs in the pandemic’s early days to support millions of workers who’d lost their jobs. Those programs, which ended on Labor Day this year, raised weekly benefits, extended the duration of aid and expanded the pool of jobless Americans eligible for payments.

The federal government issued $872 billion in total benefits as of Sept. 30, according to an estimate from the Labor Department’s Office of Inspector General, which released a semiannual report for Congress on Monday.

However, the “unprecedented” level of funding led to a surge in theft and fraud, according to the watchdog, which audits Labor Department programs and operations.

It estimates 10% or more (at least $87 billion) of the federal money was likely lost to “improper payments,” with a “significant portion attributable to fraud.”

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; News/Current Events
KEYWORDS:

1 posted on 12/02/2021 10:08:57 AM PST by John W
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To: John W

And I just want one of those billions.


2 posted on 12/02/2021 10:12:10 AM PST by Principled (Biden is illegitimate and whatever he says can be ignored. )
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To: John W
BS.....they knew they had a BS program and they probably know which of their friends are now multi millionaires...

meanwhile, people of ordinary and legal means sit here thinking about how to pay property and income tax for next year.

3 posted on 12/02/2021 10:12:48 AM PST by cherry
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To: John W

To quote Hunter, “10% for the Big Guy”


4 posted on 12/02/2021 10:13:30 AM PST by Sgt_Schultze (When your business model depends on slave labor, you're always going to need more slaves)
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To: John W
More than $87 billion in unemployment benefits funded by the federal government was likely siphoned from the system during the Covid-19 pandemic, much of it due to fraud, according to a U.S. Department of Labor report.

Huh. Offering free money to people results in fraud? Who'da thunkit?

5 posted on 12/02/2021 10:15:30 AM PST by Yo-Yo (is the /sarc tag really necessary?)
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To: John W

To all the hard working taxpaying Americans—see how they disrespect you and your money.


6 posted on 12/02/2021 10:15:33 AM PST by notaliberal (St. Michael the Archangel, defend us in battle,)
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To: John W

Oh they’ll go after the fraudsters all right

Every one of those registered Republicans that took a single dollar.

Watch.

.


7 posted on 12/02/2021 10:24:22 AM PST by cuz1961 (USCGR Veteran )
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To: John W

And yet Dems felt 5-10 billion for a wall was wasteful spending.


8 posted on 12/02/2021 10:34:46 AM PST by Marko413
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To: John W
"Siphoned..". Is that like "Purloined".? Or maybe peculate.. Perhaps defalcate... Politicians have such slick ways of describing how they made off with the cash....
9 posted on 12/02/2021 10:34:51 AM PST by unread (Everything you ever thought was right, fair and just is completely wrong..... I think..(?))
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To: John W

TRANSLATION:

Democrats put a hole in the ship, and are now feigning surprise that there’s water in the hold.


10 posted on 12/02/2021 10:50:32 AM PST by HKMk23 (The right of freedom of religion shall not be derogated even if the life of the nation is at stake.)
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To: John W

Only $87 billion?

Seems low


11 posted on 12/02/2021 10:52:48 AM PST by SMARTY (Republics decline into democracies & democracies degenerate into despotisms. Aristotle)
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To: John W

Quick! Spend 87 billion dollars to hire IRS agents to investigate, so they can get back 87 billion dollars! It’s urgent! Build back badder.


12 posted on 12/02/2021 3:44:39 PM PST by Eleutheria5 (Buck Foe Jiden!)
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To: unread
how they made off with the cash....

Which is exactly why we need to go back to the Gold standard, they can’t carry off something that heavy. The Damned Scumbags !!!!!

13 posted on 12/02/2021 5:03:59 PM PST by mabarker1 ((Congress- the opposite of PROGRESS!!! A fraud, a hypocrite, a liar. I'm a member of Congress !!!!)
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To: John W

Another day, another 87 billion stolen from taxpayers.


14 posted on 12/03/2021 7:28:01 AM PST by Jonny7797
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