3.7 billion dollars reported missing from Treasury due to lack of oversight

The Alliance for Taxpayer Protection demands that funds must be allocated in order to control public spending.

The president of the Alliance for Taxpayer Protection, David Williams, has called for greater spending control from the government. According to their estimates, US$3.7 billion has been lost due to the absence of adequate oversight.

This is especially relevant in the 2022 fiscal year, for which a record budget of six trillion dollars has been approved. A lot of money to spend in the hands of the Biden administration, which, in Williams' words, "keeps rushing money out, because it's a photo op for them. A virtual photo to say, "I´ve just spent a billion dollars to 'help' people."

Eager to spend money, not to supervise

"The problem is that they're very eager to spend the money, but they're not so eager to do the oversight," was the analysis given by the organization's president for Just The News. Williams indicated that there is a solution to the problem and that there is "money set aside and earmarked for the inspector general to eradicate this."

Until action is taken, "The criminals know that the government does not have the proper checks and balances in place, and that is why $3.7 billion has disappeared. They just disappear it from the U.S. Treasury," he lamented.

The Durbin example

Williams denounced that not enough effort is put into even checking the credentials of the person requesting the help. And not even if the entity for which he or she is requesting the money exists. A concrete example of this was experienced by Democratic Senator Dick Durbin, whose son was claimed to have a loan for a company he supposedly owned.

"My son was accused of defaulting on a $140,000 Wage Protection Program (PPP) loan to a Durbin Construction Company. There is no Durbin Construction Company. Someone had secured and stolen a loan of $140,000," Durbin explained.

Senator Coburn and Katrina

This is not, however, a problem unique to the Biden team. As early as 2005, "the late Senator Tom Coburn pleaded with Congress to allocate money for oversight during Hurricane Katrina. He said, 'We're going to spend hundreds of billions of dollars. We're going to spend a few million to do oversight,' and they rejected his amendment. So this goes back a long way," Williams recalls.