Accommodation Singapore

Latest News

WATCH: GOP senators rail against staggering $4.7 trillion in untraceable Treasury payments

25 May 2025 By foxnews

WATCH: GOP senators rail against staggering $4.7 trillion in untraceable Treasury payments

Accommodation Singapore introduces

Earlier this year, Elon Musk's Department of Government Efficiency (DOGE) uncovered $4.7 trillion in untraceable Treasury Department payments. 

Prior to the discovery, Treasury Account Symbol (TAS) identification codes were optional for $4.7 trillion in Treasury Department payments, so they were often left blank and were untraceable. The field is now required to increase "insight into where the money is actually going," the Treasury Department and DOGE announced in February

"Of the 1.5 billion payments that we send out every year, they are required to have a TAS, a Treasury Account Symbol. We discovered that more than one third of those payments did not have a TAS number," Treasury Secretary Scott Bessent said before the House Appropriations Subcommittee on Financial Services and General Government earlier this month. 

Fox News Digital asked Republican senators on Capitol Hill to respond to the approximately 500,000 in untraceable payments made by the Treasury Department each year. 

DOGE SAYS IT FOUND NEARLY UNTRACEABLE BUDGET LINE ITEM RESPONSIBLE FOR $4.7T IN PAYMENTS

"I'm not surprised at all, unfortunately," Sen. Roger Marshall, R-Kansas, said before adding, "They were leaving complete fields undone when they were filling out their financials, so this is a common theme. I'm not surprised."

TOP 5 MOST OUTRAGEOUS WAYS THE GOVERNMENT HAS WASTED YOUR TAXES, AS UNCOVERED BY ELON MUSK'S DOGE

Sen. Eric Schmitt, R-Missouri, called for an investigation into where those payments actually went. 

"There's so much waste. There's so much fraud, There's so much abuse in our government," Schmitt told Fox News Digital. "I'm glad there was a laser-like focus on it. We ought to make many of those reforms permanent, but there probably ought to be some investigations here about where this money actually went. I mean this is taxpayer money. People work hard."

After DOGE and the Treasury Department uncovered $4.7 trillion in untraceable funds, Marshall and Sen. Rick Scott of Florida introduced a bill in March requiring the Treasury Department to track all payments. 

The Locating Every Disbursement in Government Expenditure Records (LEDGER) Act seeks to increase transparency in how the Treasury Department spends taxpayer money. 

"When you hear about this story that they didn't know where the money was going, it makes you mad because this is somebody's money, this is taxpayers' money when we have almost $37 trillion in debt, so this makes no sense at all," Scott said. 

The Congressional Budget projects that interest payments on America's national debt will total $952 billion in fiscal year 2025. That's $102 billion more than the United States' defense budget at $850 billion. 

CLICK HERE TO GET THE FOX NEWS APP

"We paid out more last year on our debt, $36 trillion in debt, with $950 billion in interest going to bondholders all over the world, including in China. That $950 billion didn't go to build a bridge or an F-35. We paid more on the interest on debt than we did to fund our military," said Sen. Dan Sullivan, R-Alaska. 

"That is an inflection point that when most countries hit, you look at history, that's when great powers start to decline. So we have to get those savings."

Are you looking for a holiday? Get special deals.

 

More News

Booking.com
Fox News AI Newsletter: Trump order harnesses AI to fight childhood cancer
Fox News AI Newsletter: Trump order harnesses AI to fight childhood cancer
Meta strengthens teen safety with expanded accounts
Meta strengthens teen safety with expanded accounts
Protect yourself from sneaky web injection scams
Protect yourself from sneaky web injection scams
Thousands of protesters prompt world-famous landmark to close its doors on tourists
Thousands of protesters prompt world-famous landmark to close its doors on tourists
Wedding venue slammed for 'profiting off death' by keeping $18K deposit amid tragedy
Wedding venue slammed for 'profiting off death' by keeping $18K deposit amid tragedy
FBI busts alleged Maduro-linked money laundering network spanning multiple nations
FBI busts alleged Maduro-linked money laundering network spanning multiple nations
49ers' Mac Jones saw dead body 'floating' in water near team hotel before game vs. Rams: report
49ers' Mac Jones saw dead body 'floating' in water near team hotel before game vs. Rams: report
Trump administration offers teen migrants $2,500 to leave US voluntarily: reports
Trump administration offers teen migrants $2,500 to leave US voluntarily: reports
DHS says ICE agents in Chicago suburb 'boxed in by 10 cars' as tensions escalate
DHS says ICE agents in Chicago suburb 'boxed in by 10 cars' as tensions escalate
Oasis guitarist diagnosed with cancer, forced to miss reunion tour dates
Oasis guitarist diagnosed with cancer, forced to miss reunion tour dates
Daughter of notorious killer Dan Lafferty chooses forgiveness over hatred after decades of shame
Daughter of notorious killer Dan Lafferty chooses forgiveness over hatred after decades of shame
Nicole Kidman's rise from small-screen roles to global stardom and two famous loves: PHOTOS
Nicole Kidman's rise from small-screen roles to global stardom and two famous loves: PHOTOS
FOX Sports analyst Mark Sanchez in 'stable condition' after reported stabbing in Indianapolis
FOX Sports analyst Mark Sanchez in 'stable condition' after reported stabbing in Indianapolis
More people turn to acupuncture for back pain as study shows relief
More people turn to acupuncture for back pain as study shows relief
Aviation expert reexamines Amelia Earhart's disappearance with bold claim
Aviation expert reexamines Amelia Earhart's disappearance with bold claim
Three common fruits can help Americans fall asleep faster and sleep better
Three common fruits can help Americans fall asleep faster and sleep better
Mike Waltz sees Trump's Gaza plan as 'once-in-a-generation opportunity for peace'
Mike Waltz sees Trump's Gaza plan as 'once-in-a-generation opportunity for peace'
Police defend findings of Kyren Lacy crash investigation after attorney provides new evidence
Police defend findings of Kyren Lacy crash investigation after attorney provides new evidence
Bill Maher criticizes Dave Chappelle for remarks on free speech at Saudi comedy festival
Bill Maher criticizes Dave Chappelle for remarks on free speech at Saudi comedy festival
Dogs treated like family in major American city now face canine cancel culture
Dogs treated like family in major American city now face canine cancel culture
Latest News

copyright © 2025 Accommodation Singapore.   All rights reserved.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z