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Dec 22 2021

$100 Billion in Covid Relief Stolen

The money you earn represents wealth you have created. Now that your money is worth less thanks to escalating inflation, what happened to that wealth? It was thrown to the four winds by Big Government. Due to carelessness, much of it was vacuumed up through fraud:

Nearly $100 billion at minimum has been stolen from COVID-19 relief programs set up to help businesses and people who lost their jobs due to the pandemic, the U.S. Secret Service said Tuesday.

The estimate is based on Secret Service cases and data from the Labor Department and the Small Business Administration, said Roy Dotson, the agency’s national pandemic fraud recovery coordinator, in an interview. The Secret Service didn’t include COVID-19 fraud cases prosecuted by the Justice Department.

The actual sum is no doubt far higher, but no one in the government is that serious about counting. After all, they can always print more money.

The Labor Department reported about $87 billion in unemployment benefits could have been paid improperly, with a significant portion attributable to fraud.

Not all of the money stayed in the USA:

[F]ederal funding through the CARES Act attracted the attention of individuals and organized criminal networks worldwide.

It could be argued that the actual amount of money lost to fraud is in the $trillions. Every penny spent by the federal government outside of its authority as defined by the Constitution is in effect fraud. The con is that politicians pretend this is a socialist country, although actually it is not.

On a tip from Bluto.


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