$55 Billion in Fraud Anticipated

Thursday, March 19, 2009 at 5:08PM
Talk Radio News Service (Admin) in Committee on Oversight & Government Reform, Congress, Dan Burton, Earl Devaney, Frontpage 3, Jimmy Duncan, News/Commentary, Recovery Act Transparency and Accountability Board, Recovery Act funds, dennis kucinich, fraud, stimulus money

University of New Mexico, Talk Radio News

At the House Committee on Oversight & Government Reform Earl Devaney, chairman of the Recovery Act Transparency and Accountability Board, said that he was creating a user friendly website: http://www.doioig.gov/index.php?menuid=460&viewid=613&viewtype=PAGE , and that some reporters are already using it.

Rep. Dennis Kucinich (D-Ohio) asked Devaney for assurance that the Recovery Act funds that have gone to existing programs are being spent quickly. Devaney said that he could not provide that.

Dan Burton (R-Ind.) asked Devaney about an expected $55 billion in fraud as the Recovery Act funds go out. Devaney confirmed that about seven percent fraud is a credible estimate, and the best law enforcement can provide is zero tolerance.

Rep. Jimmy Duncan (R-Tenn.) points out that not all of the stimulus money is creating jobs, citing $40 million in his own district that went to raises, standing bills and only two new jobs.

Article originally appeared on Talk Radio News Service: News, Politics, Media (http://www.talkradionews.com/).