(PatriotHQ) Just about the time you think Washington can’t get any more dysfunctional they shocked even the most skeptical!
Get this. In the name of unemployment benefits Congress paid out billions to whom? Prisoners, people who don’t exist, abundant houses some showing over 145 people living in them and untold numbers of other surrounding houses with multipule 'non-existant' people not only that but then fat checks were issued to the same social security number 40 times over dozens of states! OMG!
At least $191 billion in pandemic unemployment insurance payments have been wrong! The Department of Labor's inspector general told a House committee on Wednesday at least $191 billion in unemployment benefits could have been given out wrongly during the coronavirus pandemic.
This number is almost $30 billion more than what was told the House Homeland Security and Governmental Affairs committee, which is controlled by Democrats, last year. The new number was based on new information from the Employment Training Administration, which is in charge of directing and overseeing programs.
Larry Turner, the inspector general for the Department of Labor told Congress: "For more than two years, Republicans have been raising the alarm about the biggest theft of taxpayer money in American history: the massive fraud in the unemployment insurance program skyrocketed with the COVID-19 pandemic," said U.S. Rep. Jason Smith, R-Mo., chair of the Ways and Means committee.
Turner said when his office did an audit, they found a claim was filed from a three-bedroom house and used the same email address as 145 other claims.
"The likely scammers got a total of $1,569,762 in unemployment checks," he said.
Gene Dodaro, the head of the Government Accountability Office, testified based on an analysis of public statements and court documents from the Department of Justice from March 2020 to January 13, 2021, "At least 380 people pleaded guilty to federal charges of cheating unemployment insurance programs, and three people were found guilty in court. At least 40 of the 380 also admitted to fraud in other pandemic relief programs."
Michael Horowitz, who is the chair of the Pandemic Response Accountability Committee, testified since a report came out in December 2021 about problems 16 states had, his committee has seen a rise in the number of states reporting fraud cases involving state workforce agency employees. These states include Washington, Louisiana, and West Virginia.
Also, he said, many states gave benefits to people who weren't supposed to get them, like prisoners. For example, California says it gave $800 million in benefits to 45,000 prisoners. He said in one case, someone used the same Social Security number to apply for unemployment benefits in 40 states. As a result, $222,532 was paid out by 29 of those states.
Dodaro said, "[The Labor Department] and the states were not ready to handle [unemployment insurance] they didn't do a good job of managing risks strategically and didn't have the right internal controls." YIKES!
Inconclusion: WE ARE DOOMED!
What do you think?
Replies
Which Banks took the funds as deposits or cashed the checks? ... Any financial institution that knowingly launders such funds needs to be in prison for money laundering...
How does a Bank cash or process 145 unemployment checks made out to one account number? or to multiple accounts with the same address, social security, or tax ID number? How could a few criminally inclined individuals manage to open millions of accounts... too, produce all the necessary documents and information needed to establish a lawful account? Major ORGANIZED CRIME had to be involved... and that INCLUDES the complicit help of BANKS to launder (process the checks). This sort of theft doesn't go unnoticed by the government agency processing the claims or the financial institutions handling the receipt and distribution of the funds advanced against government checks or electronic transactions.
I would not be surprised to discover major financial institutions .... laundering such transactions for part of the take. We no longer have institutions or individuals of high moral character running our institutions of finance. If Wells Fargo Bank can be forced to settle claims for opening fraudulent credit cards, using customers' names who did not apply; such institutions are certainly capable of taking money in abandoned or compromised accounts... Who knows what they are capable of?
Surprise, surprise! Who would have thought that the member banks of the Federal Reserve are actually at the root of the problem? Answer: Only those who have been following the collusion between the ever growing federal government, private/public partnerships and the deceitful imposition of Modern Monetary Theory by our elected representatives. Even Woodrow Wilson, who was arguably a principal founder of the modern progressive, centralized big government movement, regretted the creation of the Federal Reserve system in his final years. We have known since ancient times that "the borrower is a slave to the lender" but the seductiveness of "free stuff" from a socialist nanny state is apparently too tempting for many to resist. And it appears that the people who still believe that they live in a free country may be the real slaves. Our Founders would have been appalled to see what is happening to their vision of freedom and equal justice for all.
It is my understanding US checks can be depoisted in any bank worldwide. The biggest culprit is hsbc mexico which also operates as HSBC Financial. Also, Thrift and Loans and Credit Unions and State Banks make their own deposit rules and are NOT FDIC.
The Federal Deposit Insurance Corp., which has provided insurance for money kept in banks since the 1930s, extended its authority to cover S&Ls in 1989. It insures up to "$250,000 per depositor, per insured bank, for each account ownership category." In this case, the term "bank" includes savings and loans, too.
Credit unions have their own insurance fund, run by the National Credit Union Administration (NCUA). The National Credit Union Administration is a US government agency that regulates and supervises credit unions.
There are also State Insurance programs for State Chartered thrifts and other State Chartered financial institutions... The FDIC is not the only government insurance program covering deposits in US and State Chartered financial institutions.
Our Government is dysfunctional and we can't do a thing about it.
When will they raise our taxes?
The government no longer needs to raise taxes to fund the government... Governmetn uses monetary easing to meet its revenue requirements when taxes fail to produce the necessary funds... QE the art of printing currency (borrowing money) is the primary means to fund government shortfalls in taxes. The government simply prints currency and uses it to fund its operations. This however creates INFLATION as the money supply is INFLATED with a currency that has no real value... Dollars printed without an increase in production or government assets increase the dollars in circulation (supply) without an increase in their value.
For example…a loaf of bread that sold for 1.50 before monetary easing (increasing the money in circulation) could sell for 2.00 after monetary easing… this phenom is called INFLATION and it affects ( indirectly taxes) the value of ALL DOLLARS IN CIRCULATION… It taxes your savings, your property, and the value of all dollar-vested items. It occurs without notice or the need for Congress to raise taxes. It is a way to steal your money and lie about it. Congress will tell you they didn’t raise your taxes but every time you purchase something in dollars, paying more than you did the day before, it is inflation at work funding the government.
Quantitative Easing… printing currency without raising taxes or increasing its real value... QE allows the government to fund itself without creating new taxes. However, QE floods (inflates) the dollars in circulation, decreasing the value of each dollar in circulation. QE creates inflation and debt that must be paid with interest… it is a double whammy and imposes the greatest burden on the middle class and poor.
Why am I not surprised!? The Dems seems to pay everyone EXCEPT the taxpayers!
Not only that Steve, they send us the bill! WTF!
The so-called Social Security program has been a scam Ponzi scheme from its very beginning, and its just another example of Marxist big government ideas that are so good that they have to be made mandatory. Why would anyone willingly participate in a retirement program in which half of the participants would die before they were eligible to receive any benefit and will have no ability to choose the person(s) to whom they wish to leave their lifetime retirement savings? And then, if one lives long enough, the program pays back in dollars which have lost most of their value over the years due to inflation. Bernie Madoff would have been so proud!
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