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Social Security Is A Mess: There Are 6 Million Active Accounts Of People Aged 112+

Sad, truly sad...

by Tyler Durden

Monday, Dec 21, 2020 - 22:40

Our friends at Open The Books continue to expose government waste - and fraud - and in their latest investigation, they have shone the spotlight on one of the largest wastes in the US government: the Social Security Administration.

What they have uncovered is that last year alone, Social Security admitted to $8 billion in improper and mistaken payments.

The punchline: when they dug deeper, they found that there are six million active social security numbers of people aged 112 and older... even though only 40 or less or those people exist in the world.

The root cause of this collosal abuse: failure to verify death.

(My Comment: for Cripes Sake! This is Internal Control 101. Unbelievable. Heads should roll over this.......lots of them, if they are all that stupid.)

And yet while you won't read about it in the papers, the four-year total sum to US taxpayers is roughly $2.8 billion, which in today's numbers when trillions are thrown around may not sound like much, but add up all the other areas of government waste, and soon you end up with far greater numbers.

Watch the clip below for more.

https://youtu.be/ViuIvbG1cH8


Some years ago Social Security went to mandatory auto-payments directly to the beneficiaries bank account.

So, this also means a LOT of dishonest Americans still Living Off of Grandma's and Grandpa's Social Security payments. That is FRAUD. So a lot of Americans, who are not so honest, and definitely not law abiding are going to PRISON for Fraud. Trump's going to have to expand some prisons to accommodate all these thieves/Fraudsters.

I suppose there is a remote possibility that the SS money is still sitting in Grandma's bank account untouched. In that case, we should be able to recover the funds. Continuing to receive auto payments will keep Grandma's bank account in an "active" status, so the accounts wouldn't be escheated to the thieves at the State Gov't.

#Social Security Is A Mess: There Are 6 Million Active Accounts Of People Aged 112+ Sad, truly sad... by Tyler Durden Monday, Dec 21, 2020 - 22:40 Our friends at Open The Books continue to expose government waste - and fraud - and in their latest investigation, they have shone the spotlight on one of the largest wastes in the US government: the Social Security Administration. What they have uncovered is that last year alone, Social Security admitted to $8 billion in improper and mistaken payments. The punchline: when they dug deeper, they found that there are six million active social security numbers of people aged 112 and older... even though only 40 or less or those people exist in the world. #The root cause of this collosal abuse: failure to verify death. *(My Comment: for Cripes Sake! This is Internal Control 101. Unbelievable. Heads should roll over this.......lots of them, if they are all that stupid.)* And yet while you won't read about it in the papers, the four-year total sum to US taxpayers is roughly $2.8 billion, which in today's numbers when trillions are thrown around may not sound like much, but add up all the other areas of government waste, and soon you end up with far greater numbers. Watch the clip below for more. https://youtu.be/ViuIvbG1cH8 ---- Some years ago Social Security went to mandatory auto-payments directly to the beneficiaries bank account. So, this also means a LOT of dishonest Americans still Living Off of Grandma's and Grandpa's Social Security payments. That is FRAUD. So a lot of Americans, who are not so honest, and definitely not law abiding are going to PRISON for Fraud. Trump's going to have to expand some prisons to accommodate all these thieves/Fraudsters. I suppose there is a remote possibility that the SS money is still sitting in Grandma's bank account untouched. In that case, we should be able to recover the funds. Continuing to receive auto payments will keep Grandma's bank account in an "active" status, so the accounts wouldn't be escheated to the thieves at the State Gov't.

(post is archived)

$8 billion is important, but peanuts compared to the ticking time bomb of SS's unfunded liabilities.

[–] 0 pt

End social security