Posted on 12/23/2009 5:01:59 PM PST by Kaslin
Bailouts: Having spent more than $3 trillion on stimulus and bailouts so far, the government apparently can't be sure it's not being massively defrauded. So much for transparency and accountability.
During the transition early this year, President Obama vowed to "restore the American people's trust in their government by making government more open and transparent."
Yet, it's quite possible that this year's $787 billion American Recovery and Reinvestment Act — also known as the "stimulus" — will turn into the largest fraud in history, and we'll never know.
The reason: It's become impossible to verify why those who are getting the stimulus money are getting it.
A new report from the Treasury Department's Inspector General for Tax Administration counts 56 tax provisions in the bill having a potential cost of $325 billion. Of those, 20 are tax breaks for individuals and 36 are for businesses.
The problem, the Inspector General says, is the IRS can't verify taxpayer eligibility "for the majority of Recovery Act tax benefits and credits." For individual taxpayers, 13 of the 20 benefits and credits can't be verified; for businesses, it's 26 of 36.
(Excerpt) Read more at investors.com ...
I can’t wait for when this level of efficiency, competence, and transparency runs all of our personal medical care.
It’s just money, print some more...we have to satisfy the UN dictators who demand it!
It’s just today been deemed that ACORN is as clean as a whistle, so problem solved........there’s a standing community organizing setup fully in place, standing ready to receive and distribute with their expertise.
Like no here didn't see that happening.
Democrats= fraud and corruption.
exactly
Slice ham costs $.79 per pound at Food Lion. http://foodlion.mywebgrocer.com/CircularItemList.aspx?catid=1...
*sigh* If you want any kind of fix, you have to let the companies file for bankruptcy and reorganize. Things change pretty quickly when your business practices hit a life-or-death situation.
If the gov’t were absolutely hell-bent on dropping that much money on the economy, they should have used it for some kind of public works project (like, oh, I don’t know... fixing our massively overburdened power grid or something). Then at least we’d have something to show for the hole we’ve dug ourselves.
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