They aren’t even close to the total yet. And remember that much of that fraud was intentional with billions of dollars flowing to political friends and allies through loose rules and arbitrary decisions. The pandemic bailout is the greatest looting of the American people in history and it happened right in front of us.
The federal government squandered more than $200 billion in potential fraud in its aggressive rush to prop up small businesses as the COVID-19 pandemic threatened to shatter the U.S. economy, according to a report published Tuesday by the inspector general of the Small Business Administration.
The hefty sum, which amounts to approximately 17% of the $1.2 trillion dispersed by SBA, updates previous estimates from the inspector general, Hannibal “Mike” Ware, as investigators from several federal agencies continue to trace and recover millions of dollars lost to fraud, waste and other abuses that occurred during the pandemic.
Your angle is all wrong, Owen.
That $200BN is in the hands of those who will SPEND IT. That’s good for the economy, pal.
Only a couple of degrees removed from the Truth-Bomb that ‘You may have lost your job to some Chinese sweat-shop operation, but hey!!! You can buy your crap for less at Wally World!!’
See!? It’s all about the spending –if you listen to the Chamber of Commerce.