“The government could save billions of dollars by operating more efficiently in a wide range of areas, according to a new report from the Government Accountability Office.”
“Wasting taxpayer funds is always an issue, but it may be an even more pressing concern now that the U.S. has embarked on a massive, multi-trillion-dollar effort to keep the economy afloat during the coronavirus crisis. ‘The federal government has made an unprecedented financial response to the COVID-19 pandemic,’ the report says. ‘At the same time, opportunities exist for achieving billions of dollars in financial savings and improving the efficiency and effectiveness of a wide range of federal programs in other areas.’”
“The tenth in an annual series, the 148-page report identifies hundreds of issues that, if addressed, could produce substantial savings. In addition to an ongoing list of recommended improvements, some of which have spurred lawmakers to act, the GAO report includes 168 new ‘actions’ Congress could take, most of which involve reducing ‘fragmentation, overlap, or duplication in government missions and functions.’ The GAO says the government has saved about $429 billion so far as a result of its efforts to identify ways Congress can reduce costs and increase revenues.”
“Some highlights from the latest report…” Read the full article here.
Source: US Has Saved $429 Billion by Cutting Waste — and There’s Plenty More to Go: GAO – By Michael Rainey, May 22, 2020. The Fiscal Times.
