Senator Tom Coburn (who is leaving the Senate at the end of his term) commissioned an investigation to see if there is any government money sitting around in bank accounts. He found $70 BILLION.
It is disgraceful. $70 BILLION!!! Just sitting there!!!
Money has been appropriated over the years to HELP PEOPLE in some way (e.g. see below) and instead it has languished in accounts because of the ineptitude of our local, state and federal governments.
There is no authority to ‘claw back’ the money to the Federal Treasury. READ below…and post your comment. [By the way, Senator Tom Coburn is going ON THE RECORD at 10pm tonight.]
Below is from Senator Coburn’s cover letter to the taxpayer which is the intro to the report:
“…Students in Detroit, Michigan, scored the lowest performance test results ever recorded, yet the school system has been sitting on tens of millions of dollars intended to boost the city’s worst school….” —–
“….The Government Accountability Office (GAO) identified nearly $1 billion of federal funds left unused at the end of last year. This includes $802 million in expired grants plus $126 million in another government payment system for which there has been no activity in years. Over $110 million has sat unspent for more than five years with nearly $10 million unspent for more than a decade….”