Something the government can cut to save money.
Survey Reveals Overlapping Gov’t Programs Cost Taxpayers Billions - Financial News for the Best Bank Rates | Go Banking Rates
A new U.S. government survey revealed taxpayers are footing the bill for hundreds of programs that in some way overlap each other. The massive study conducted by the nonpartisan Government Accountability Office (GAO) has resulted in the recommendation that many of these programs become the target of federal spending cuts to save taxpayers money.
Numerous Overlapping Programs
The GAO discovered that the U.S. government currently has hundreds of programs in existence that overlap each other. While all of the programs have their benefits, the study found the many are so similar theyíre wasting money. An example of the overlapping includes:
* 15 agencies overseeing food-safety laws
* 20+ programs to help the homeless
* 80 programs dedicated to economic development
* 82 programs to improve teacher quality
* 80 programs to help disadvantage people with transportation
* 47 programs for job training and employment
* 56 programs to help people understand finances
While the GAO didnít place a specific price tag on the amount of spending that was overlapping, Sen. Tom Coburn (R-Okla.), who pushed for the report, said reducing the duplicative spending could free up anywhere from $100 billion and $200 billion in tax dollars.
Suggestions from the GAO
In the study, the GAO made suggestions about how the government could effectively save money for taxpayers while putting a dent in the federal deficit. Some of those suggestions include:
* Create a single food-safety agency: To eliminate some redundancy, the GAO suggests creating a single food-safety agency. For instance, right now the Food and Drug Administration makes sure that chicken eggs are ďsafe, wholesome, and properly labeledĒ while the Department of Agriculture ďis responsible for the safety of eggs processed into egg products.Ē Consolidating these efforts could save a lot of money.
* Cut surface transportation programs: The GAO found that five divisions within the Department of Transportation account for 100 different programs that fund surface transportation projects highways, railways and safety issues that could be consolidated.
* Reduce redundant teacher programs: The report identified over 80 programs spread across 10 federal agencies, 53 of which are small, receiving $50 million or less with dedication to similar goals.
* Combine economic development programs: The GAO found that 60 percent of the over 100 programs dedicated to economic development issues fund only one or two activities, making them ďthe most likely to overlap because many of them can only fund the same limited types of activities.Ē