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The Treasury's main payment system, PAM, handles about $5 trillion a year, roughly a billion dollars an hour. When we first looked at it, payments could be processed with no categorization or description – basically, untraceable blank checks. If this were a public company, it would be delisted, and the executives would be in jail. We recommended making payment categorization codes mandatory with some explanation required for each payment. This radical change is being implemented now, and I think it probably saves $100 billion a year. Where was that money going? It's hard to say what was waste and what was fraud. If the government sends money to someone who doesn't deserve it, is that waste, or fraud?

The speaker emphasizes the necessity of a long-term effort to combat waste and fraud, claiming that it will return if vigilance is relaxed, especially if Democrats regain power. The goal is to eliminate funding and grants, making it difficult to restart wasteful and fraudulent activities. The speaker questions whether government employees respect taxpayer money, suggesting a lack of incentive to do so. They assert that incentives determine outcomes and that the payment system is structured such that requests for money are automatically approved.

We've discovered $2.7 trillion in improper payments to Medicare, Medicaid, and overseas recipients who shouldn't have received them. This is just one example of the fraud, waste, and abuse we're identifying daily. Elon Musk highlighted Social Security payments being made to deceased individuals, which is clearly fraudulent. We're also finding contracts where, for instance, a million dollars was allocated, but only $500,000 was actually spent. Where did the remaining funds go? These are the issues we're addressing daily. This is exactly what President Trump promised to do during his campaign, and we are delivering on that promise.

The federal government uses only one bank account, the treasury general account, to disperse all monies. There is allegedly $500 billion of fraud every year, and hundreds of billions of dollars in improper payments. The consolidated financial report produced by the treasury cannot pass an audit due to material weakness. Until recently, the federal government could not pass an audit because it lacked necessary payment information, such as payment codes, explanations, and contact information. Previously, over 580 agencies could make payments without verification, and the treasury would send them out as fast as possible. This is likened to a household where many people can access the bank account and disperse funds without justification or verification.

We are losing roughly $1 trillion annually across federal, state, and local governments due to waste, fraud, and abuse in entitlement programs. This massive loss can be mitigated by implementing three key strategies. First, we must establish robust front-end identity verification processes to confirm the legitimacy of applicants. Second, self-certification should be eliminated to prevent individuals from falsely claiming eligibility. Finally, we need to monitor the programs continuously. By implementing these measures, we can significantly reduce the amount of wasted funds.

Governments lack the incentive to adapt and improve because they can't fail like private sector organizations. The technology revolution has transformed private sector organizations, but government organizations have not fully adapted. Government financial systems are decades old. It is claimed that $2.3 trillion in transactions cannot be tracked. Information cannot be shared within a single building because it's stored on dozens of different, inaccessible, and incompatible technological systems.

I estimate that waste, fraud, and abuse in federal, state, and local entitlement programs cost about $1 trillion annually. We could save this money by implementing three key measures: front-end identity verification, eliminating self-certification, and monitoring the back end of benefit programs. These steps would significantly reduce improper payments and ensure that benefits reach only those who are truly eligible.

The briefing details significant improper payments within HUD’s rental assistance programs, highlighting several categories of erroneous disbursements. The figures cited include about $77,000,000 in payments to around 30,000 dead tenants, about $150,000,000 paid to people with nonexistent Social Security numbers, and around $288,000,000 paid to support excessively high rent. According to HUD, the bulk of these incorrect payments—$5,200,000,000.0 of them—were made to people with inactive sam.gov accounts, the government portal used to register for assistance. The errors relate to two HUD rental assistance programs: tenant-based rental assistance and project-based rental assistance. Project-based rental assistance subsidizes housing units, allowing low-income individuals to afford them with the government paying the property owner. Tenant-based rental assistance goes directly to the person in need. In total, HUD disbursed around $50,400,000,000 in rental assistance payments in 2024, reaching more than 204,000 individuals. The portion of payments flagged as potential errors would account for approximately 11.5% of this total. Secretary Turner stated that HUD will continue investigating the results and will take appropriate action to hold bad actors accountable.

As governor, I saw firsthand government waste, but what Elon is finding is stunning. One agency had 13,000 employees but 37,000 software licenses, many unused. With millions of federal employees and credit cards, the opportunities for fraud are immense. Shockingly, there are millions of dead people still in the Social Security system. We need to address the low-hanging fruit. Keep good employees but eliminate unnecessary positions. I was in a meeting where it was revealed there are more government credit cards than employees, and the number of people on Social Security rolls is incredible. Checks go out automatically, and nobody is checking. Contract officers retire, but the money keeps flowing. Even diligent companies struggle to stop improper payments. Agencies like USAID don't track appropriations. Basic changes are needed to ensure taxpayer dollars are spent wisely.

Waste, fraud, and abuse are distinct from one another. Improper payments are related to all three, but are not the whole story. Improper payments can be caused by a variety of things, including poor record keeping, outdated IT systems, human error, and negligence. It is not simply a matter of malicious actors intentionally doing wrong. There are many reasons why they happen.

I discovered that 20 million dead people are marked as alive in the social security database. Most fraud doesn't come directly from social security payments, but from disability, unemployment, and fake medical payments because these individuals are incorrectly marked as alive. We need to implement a simple "are you alive" check to prevent these fraudulent payments. This type of negligence would result in a public company being immediately delisted, and its executives imprisoned, but it's considered normal within the government. Therefore, I recommend that the Treasury and Federal Reserve make payment categorization codes mandatory, requiring an explanation for each payment, even if it's basic. This change would significantly improve the current system and potentially save hundreds of billions of dollars annually.

A basic search of the Social Security database revealed 20 million dead people marked as alive. While it's unclear if they're directly receiving Social Security payments, their "alive" status allows them to fraudulently obtain disability, unemployment, and fake medical payments. The fraud occurs because government databases don't communicate well. For example, the Treasury's main payments computer, PAM, handles $5 trillion in payments annually, roughly a billion dollars an hour. We discovered payments lacked categorization codes and descriptions, essentially untraceable blank checks. If a public company operated this way, it would be delisted, and executives would face imprisonment.

The US Treasury Department has been flagged for potential waste and abuse of taxpayer funds, with about 23% of entitlements, roughly $50 billion annually, going to recipients without known Social Security numbers or IDs. This equates to about a billion dollars a week in potential fraud. Adding to the concern, the Treasury Department hasn't been keeping itemized records of their payouts, making it impossible to track where the money is actually going. Fortunately, an agreement has been made where the Treasury Department will start itemizing all payments, detailing where the money is going and to whom. It's unbelievable that the Treasury hasn't had to provide accountability for where taxpayer money is being spent, especially when individual taxpayers are held to a much higher standard.

For over a decade, I’ve been exposing egregious Washington waste with my monthly SQUEAL awards. Some examples are too outrageous to believe. I’m talking about bureaucrats approving PPP loans for applicants who used pictures of dolls for IDs. Imagine giving Barbie or Ken a taxpayer funded loan. Not only that, but they also believe folks claiming to be over 115 years old were alive and well enough to be approved for 3,095 PPP and idle loans worth $333,000,000 including $36,000 to a 157 year old. That’s pure hogwash. But this is only the tip of the iceberg. Instead of boosting Main Street, millions of your tax dollars were wasted through USAID to fund Iraqi Sesame Street. And this one is unacceptable. Improper payments or the government tossing cash into the wrong trough have become commonplace. In fiscal year twenty twenty four, federal agencies shoveled out $162,000,000,000 in improper payments. The most frustrating part is how simple it is to stop this waste. A report by the Pandemic Response Accountability Committee found that $79,000,000,000 in potential COVID fraud could have been prevented if four basic questions were asked. One, is the applicant's social security number valid? Two, if valid, does the name connected to that number match the name on the application? Three, does the birthday match? And lastly, is the individual alive? Seriously, folks, that could have saved $79,000,000,000 right there. The good news is that we can prevent nearly all improper payments in the future with my Doge in Spending Act that enacts common sense guardrails like those four simple questions.

Transnational fraud rings, terrorist organizations, and even nation-states are being funded by taxpayer dollars. During the pandemic, one trillion dollars was stolen, with 70% going overseas. For example, in one Western state, unemployment insurance applications exceeded the number of adults. Romanian criminals used stolen funds to facilitate fraud schemes involving fentanyl and attempts to undermine our democracy. While 99% of public sector employees are honest, some exploit the system. Data and technology are crucial to identifying these individuals. Recent examples include a breach of a Medicaid system in a Western state, resulting in $50 million stolen in under four months. These aren't individual thieves, but organized criminal groups, both domestic and transnational.

Waste, fraud, and abuse are all distinct, and improper payments are a subset of these categories. However, this doesn't provide a complete understanding. Improper payments can stem from issues like poor record keeping, outdated IT systems, human error, or negligence. It's inaccurate to assume that improper payments are solely the result of malicious intent or actions. There are various underlying reasons why these payments occur.

Transnational fraud rings, terrorist organizations, and even nation-states are being funded with taxpayer dollars. During the pandemic, one trillion dollars was stolen, with 70% going overseas. For example, one state had more unemployment claims than adults. Romanian criminals used stolen funds for fentanyl and to undermine our democracy. While most public servants are honest, some exploit the system. In one recent case, individuals stole $50 million from Medicaid in under four months. These aren't individual thefts, but organized criminal groups, both domestic and transnational, that we need data and technology to stop.

Chairman Marcia Taylor Green's subcommittee discovered $2.7 trillion in improper payments to Medicare, Medicaid, and overseas recipients. These payments went to individuals who should not have received them. Doge is identifying fraud, waste, and abuse daily. Elon Musk mentioned Social Security payments being sent to deceased individuals. There are also contracts where, for example, a million dollars was allocated, but only $500,000 was disbursed, raising questions about the missing funds. Doge is actively addressing these issues. President Trump campaigned on this and is delivering on that promise.

Since 2012, the government has wasted nearly $3 trillion in taxpayer money. Last year alone, improper payments totaled $247 billion. This includes payments to deceased individuals; over $530 million in pension payments went to dead people. Medicare improperly paid out $47 billion, and Medicaid, $81 billion. Fraudulent payments under the Biden administration reached $764 billion in just three years. These improper payments add up to $2.8 trillion – enough to cover five years of US foreign aid. This amounts to $850 per person in the country.

Speaker 0 stated that people on LinkedIn take themselves too seriously and avoid risk, so they decided to do the opposite. Currently, they are working on payment computer initiatives to root out fraud and waste. Speaker 0 found that there is no accounting of where payments actually go within the payment computer. When looking at a specific line item, like $20,000,000, it is often unknown where the money is going. Speaker 0 believes this lack of accountability is a huge cause for concern because the upstream entity distributing the money has no checks and balances, making it a significant vector for fraud, waste, and abuse. They claim there is no incentive to respect taxpayer money when working in the government, and incentives determine outcomes.

Modernizing American medicine will address waste, fraud, and abuse. Last year, 230,000 Americans on Obamacare plans were unaware of their enrollment; brokers profited by enrolling them without their knowledge. California has taken millions of dollars from the federal government to provide free health insurance for illegal immigrants. The government intends to recoup this money. Medicaid patients are also being enrolled in multiple states, resulting in the federal government paying multiple states for the same individual without ensuring they receive adequate healthcare.

The speaker outlines several policy and oversight actions within HUD and related agencies. First, they assert that non-permanent residents are no longer eligible for FHA insured mortgages, and that public housing authorities are being audited to ensure taxpayer dollars do not support illegal aliens, insisting that “American dollars should benefit American citizens and American citizens only.” Despite these emphasis on restricting benefits, the speaker notes that HUD previously provided a pathway for home ownership and supported housing affordability for more than 1,000,000 Americans through FHA and Ginnie Mae, highlighting the agency’s impact in expanding access to housing and affordability. On stewardship and accountability, the speaker emphasizes a strong focus on cracking down on waste and fraud and abuse. They cite findings from the office of the chief financial officer (CFO) regarding potential financial issues: more than $5,000,000,000 in potential payment errors and over $50,000,000,000 in total rental assistance for fiscal year 2024. They also point to a specific problem within that broader amount: money that went to nearly 30,000 dead people. The speaker characterizes these financial findings as ludicrous and unacceptable, stating that such issues are a violation of the sacred trust with American taxpayers. They assert that the problem “has to end, and it will,” signaling a firm commitment to ending waste, fraud, and abuse and to restoring confidence in the management of housing programs and related federal dollars.

The Small Business Administration reportedly gave loans to dead people and people with impossible ages, totaling around $330 million. Some recipients had birth dates placing them over 115 years old, while others had birth dates in the future, such as 2165. These errors suggest potential fraud or incorrect data entry. The question is whether these discrepancies are due to typos or identity theft.

We're uncovering massive fraud, waste, and abuse daily. Recently, it was discovered that there were $2.7 trillion in improper payments to Medicare, Medicaid, and overseas. Social Security payments are even going to deceased individuals. We're also seeing contracts where the full amount wasn't delivered. For example, a million-dollar contract might only see $500,000 distributed, and we're working to find where the rest of the money went. This is exactly what I campaigned on, and what 77 million people elected me to do.

A lot of Americans' money has been stolen through fraud and improper payments. In one of my first hearings, we discovered criminals using social security numbers of dead people or people over 115 years old to get small business loans and steal money from federal programs. We need to work to fix these issues in our legislation, budgets, and appropriations. This is a bipartisan issue; we're addressing money being fraudulently used and stolen. The American people are being robbed blind through improper payments, fraud, and outdated systems. Some federal agencies hire third-party vendors to hold data instead of communicating within the government. We are currently $36 trillion in debt, and we can't afford to keep losing money this way.