Richardcyoung.com

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin & Alfie Oakes
  • World Gold Mine Production
  • Fidelity & Wellington Since 1971
  • Hillsdale College
  • Babson College
  • Artificial Intelligence Opposed
  • Contact Us

FRAUD EVERYWHERE: COVID Spending Proves How Bad Government Can Be

February 23, 2022 By The Editors

By Backcountry Media @ Shutterstock.com

When you spend your own money, chances are you spend it wisely. But if you were spending someone else’s money, would you take as much care? Governments are always operating with OPM or “other people’s money.” Bureaucrats direct trillions of dollars with no vested interest in getting the best or cheapest results. If COVID stimulus programs have done anything, it’s to prove once again just how ineffectual and broken the system is. Tony Romm reports on the massive fraud found in COVID spending for The Washington Post:

In Stamford, Conn., a 46-year-old resident pleaded guilty after putting a portion of $4 million in coronavirus aid toward the purchase of a Porsche. And a Mercedes. And a BMW.

In Somerset, N.J., a 51-year-old woman allegedly invented employees, inflated wages and fabricated entire tax filings to collect $1 million in loans.

And in St. Petersburg, Fla., a federal judge sentenced to prison a 63-year-old man who obtained $800,000 on behalf of businesses that did not exist.

The cases and charges, each announced over the past month, count among hundreds involving a slew of programs enacted by Congress in the darkest days of the coronavirus pandemic, money dispatched with such an urgency at the time that it is now putting Washington watchdogs to the test.

Roughly two years after lawmakers approved their first tranche of rescue funds, the U.S. government is grappling with an unprecedented challenge: how to oversee its own historic stimulus effort. Totaling nearly $6 trillion, the loans, grants, direct checks and other emergency assistance summed to more than the entire federal budget in the fiscal year before the coronavirus arrived, creating a unique and lasting strain on policymakers to ensure the funds have been put to good use.

The easiest answer for overseeing efforts like these is to not pursue them in the first place. No government can successfully direct $6 trillion of funding in two years, or perhaps in any number of years.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • The Government Noose Tightens
  • Big Government Is Bad
  • Government Spending is Devastating Capitalism
  • Pension Fraud
  • Author
  • Recent Posts
The Editors
The Editors
The Editors
Latest posts by The Editors (see all)
  • Russian Black Sea Fleet Decimated - May 6, 2025
  • Houthis Target Israel Again - May 5, 2025
  • What Happens when AI Makes Things Up? - April 24, 2025

Dick Young’s Must Reads

  • Are You Prepared to Run Out of Water?
  • We’ll Burn the Place Down!
  • Richard Feynman Solved the Space Shuttle Disaster Mystery
  • What’s the Best Survival Currency?
  • The Fed – “Independent” and “Non Political” – Joins The Resistance
  • My Smith & Wesson Revolvers Home Defense Team
  • If You’re a Highly Effective Person, We Should Talk
  • Tom Brady Is Proof You Shouldn’t Retire if You Still Love Your Work
  • I Meant to Tell You My Recent “Survival Guy” Story
  • Boiled Frogs: Lulled to Sleep by This Market

Our Most Popular Posts

  • Not a Fan of For-Profit Medicine and the Pharmaceutical Industries
  • Texas Investigates Plans for "Muslim City"
  • TRUMP: More SALT Please
  • The Foolishness of Eliminating Cash
  • Is Trump Resetting His Relationship with Israel?
  • The Riviera: A Sunny Place for Shady People
  • An American in Rome
  • The Arctic Is No Longer Safe for NATO
  • A Contemptable Little Twerp
  • Prior Planning: Thank You, Mom

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Congratulations, You’re Retired #3: “When You Were Young”
  • Magnets Run the World — And China Runs the Magnets
  • USGS Launches Major New England Critical Minerals Survey
  • U.S. Import and Export Prices Edge Up in April Amid Fuel Declines
  • Denmark Considers Ending 40-Year Nuclear Ban
  • Apple’s Next-Gen CarPlay Rolls Out in U.S. and Canada
  • Congratulations on Graduation Day from Work to Retirement “2.0 and Go”
  • Could an Economic Slowdown Curb Global Oil Consumption Growth?
  • No SALT Please: Part II
  • Vertical Aerospace Advances Toward VX4 Certification

RSS Yoursurvivalguy.com

  • Congratulations, You’re Retired #3: “When You Were Young”
  • Are You Giving a Tax Free Gift in 2025?
  • Does Your Lazy Cash Need a Home?
  • Congratulations on Graduation Day from Work to Retirement “2.0 and Go”
  • $3 Million Makeover of the International Tennis Hall of Fame
  • No SALT Please: Part II
  • Graduating from Work to Retirement: Now What? Part 1
  • You’re Not Dreaming, Food Prices Are Falling
  • Can America Generate Enough Power for New Data Centers?
  • TRUMP: More SALT Please

US Treasury Yield Curve: My Favorite Investor Tool

My Key West Garden Office

Your Retirement Life: Traveling the Efficient Frontier

Live a Long Life

Your Survival Guy’s Mt. Rushmore of Investing Legends

“Then One Day the Grandfather was Gone”

Copyright © 2025 | Terms & Conditions | About Us | Dick Young | Archives