If we want to get a handle on our national debt, we also need to address what I will call the invisible tax on the American people. And the data is staggering. The data are staggering. The Government Accountability Office estimates that US government loses as much as $500 billion in federal funds every year to fraud. So a half a trillion dollars is wasted because fraudsters and scammers cheat our systems. That's $400 per American household every year completely wasted. (08:16–08:22)
CLAIM
Asserts that the US government loses $500 billion annually to fraud.
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