Davin News Server

https://market-ticker.org/akcs-www?post=252863

INSANE Malfeasance
Karl Denninger
2025-02-21 07:00

 >> However, the federal government could be losing between $233 billion and
 >> $521 billion annually to fraud. Additionally, federal agencies reported an
 >> estimated $236 billion in improper payments in FY 2023, and cumulative
 >> federal improper payment estimates have totaled about $2.7 trillion since
 >> FY 2003. (https://www.gao.gov/fraud-and-improper-payments)
 >
 > The "best number" is a guess with more than a 2:1 range?
 >
 > No "audit" would be considered acceptable and no firm could have a
 > presence on a US stock exchange with that sort of report. Its risible that
 > such is considered worthy of publication without immediate arrests of
 > everyone involved.
 >
 > Let me remind readers that all payments must result from an appropriation
 > by Congress in one form or another.  Any payment that is made against an
 > expired program is fraudulent by definition since there is no spending
 > authority that exists for that payment at all, and all of that
 > responsibility falls directly on Treasury because as an Executive
 > department Treasury has the legal responsibility to pay only lawful and
 > proper vouchers.  A payment request put into the system without a defined
 > and appropriated program with an appropriated amount against which it is
 > charged is per-se illegal and theft from the government by the receiving
 > party.
 >
 > Since the appropriated amount for such a program that has expired is zero
 > one must then ask where the tie-back to the appropriated amounts in the
 > ledger are for everything else that Treasury processes.  Do we know if
 > those amounts paid are more or less than the appropriated amounts, and
 > once again any in excess of appropriation is again illegal and again theft
 > from the government by the recipient.
 >
 > This is not a new problem: In 2016 the Senate Committee on the Budget
 > identified $310 billion spent on expired programs -- every penny of which
 > was spent illegally and every penny of which that was received was
 > factually stolen as the legal authorization for said programs did not
 > exist.  Again explain how Treasury managed to do this without the General
 > Ledger being out of balance because every credit has an exactly-equal
 > debit and vice-versa in said ledger and there is no program on the other
 > side with an appropriation tied to it so where did the countervailing
 > entry go?  It appears that Treasury deliberately ignores today and has
 > been ignoring the fact that programs has defined terms and when they
 > expire the authorization to spend money on them expires too until and
 > unless Congress renews them.

(https://www.budget.senate.gov/why-is-the-government-spending-310-billion-on-unauthorized-programs)

...

 > This is not accidental and it is in fact felonious on the part of every
 > Treasury employee and all of the last several Treasury Secretaries, never
 > mind every entity and person who put a voucher into the system or took a
 > paycheck as an employee of an expired program or any voucher without the
 > coding to identify and track against explicit Congressional appropriation,
 > each and every one of whom have a legal duty to take "due care" that the
 > laws are faithfully executed.
 >
 > A SINGLE DOLLAR spent in excess of Congress' appropriation is a criminal
 > felony.
 >
 > Now people wish to scream when anyone who had their fingers in that
 > bull**** is told to either cooperate in full and cut that **** out or get
 > the **** out?  If you're in that camp **** you, **** your spouse, ****
 > your children and **** everyone who you're grifting for because EVERY
 > DAMNED PENNY of that over the last several DECADES was and is theft, fraud
 > AND everyone involved should be fed to feral hogs simply because I refuse
 > to pay for the prison cells they deserve to inhabit until their carcass
 > ROTS.