Elon Musk Claims US Government Wastes $100 Billion Annually in Fraudulent Payments

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Elon Musk, CEO of Tesla and SpaceX, expressed serious concerns regarding inefficiencies in the U.S. government's payment systems, alleging a potential fraud cost exceeding $100 billion per year. In a recent post on X, he outlined proposed changes to enhance financial audits and accountability in government payments.

Musk stated that the Treasury Department and his newly established Department of Government Efficiency have agreed to implement stricter reporting requirements for outgoing payments. Key proposals include mandating a "payment categorization code" for all payments to facilitate audits and ensuring that every payment includes a rationale, currently left blank.

He also highlighted the need to regularly update the "DO-NOT-PAY list," which identifies entities involved in fraudulent activities. Musk criticized the lengthy process of getting on this list, suggesting updates should occur at least weekly. He emphasized that current payments to individuals without Social Security Numbers or temporary IDs are "extremely suspicious" and predicts significant fraud exists within this system. Musk called the situation "insane" and urged for immediate reforms.

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