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If you counted one second per number to 4.7 trillion, it would take 149,037 years! Don't believe me, ask Alexa.
Anyway, that's the number of dollars DOGE discovered in Treasury payments that were missing a critical code that makes "traceability almost impossible."
DOGE (the Department of Government Efficiency) announced Monday that the payments were missing a critical tracking code known as the Treasury Account Symbol (TAS), which is an identification code that links a Treasury payment to a budget line item, as DOGE explains, and says such a code is a "standard financial process."
“In the Federal Government, the TAS field was optional for ~$4.7 Trillion in payments and was often left blank, making traceability almost impossible,” read an X post from DOGE. Use of the TAS code is now mandatory, according to Elon Musk and DOGE.
DOGE (the Department of Government Efficiency) announced Monday that the payments were missing a critical tracking code known as the Treasury Account Symbol (TAS), which is an identification code that links a Treasury payment to a budget line item, as DOGE explains, and says such a code is a "standard financial process."
“In the Federal Government, the TAS field was optional for ~$4.7 Trillion in payments and was often left blank, making traceability almost impossible,” read an X post from DOGE. Use of the TAS code is now mandatory, according to Elon Musk and DOGE.
The Musk-led project to curb waste, fraud, and abuse in the federal government said that in light of the discovery, use of the TAS code is now mandatory and whoever may have been putting money in their proverbial pockets will now have to show up and work for their pay.
“As of Saturday, this is now a required field, increasing insight into where money is actually going,” DOGE said, thanking the Treasury Department for its “great work” implementing the change.
Musk called the change as a “major improvement in Treasury payment integrity.”
“This was a combined effort of [DOGE, Treasury and the Federal Reserve],” Musk tweeted. “Nice work by all.”
The US Treasury Department, which facilitates trillions of dollars worth of government payments every year, was one of the first agencies DOGE began to audit after President Trump’s inauguration.
DOGE staffers at Treasury have been granted access to the department’s highly sensitive payment systems in an effort to root out waste, fraud and abuse, in spite of the Democratic Party wanting to keep the books hidden.
“This is not some roving band … This is methodical and it is going to yield big savings,” Treasury Secretary Scott Bessent said of DOGE at a Bloomberg TV interview last week.
DOGE recently proposed “deleting paper checks” at Treasury, arguing that it would save taxpayers “at least $750 million per year.”
The initiative noted that the Treasury Department must keep “a physical lockbox” to collect the more than 100 million checks it processes each year, which costs about $2.40 per check to maintain.
In fiscal year 2023, some $25 billion in tax refunds were delayed or lost due to returned or expired checks, according to DOGE.
DOGE recently proposed “deleting paper checks” at Treasury, arguing that it would save taxpayers “at least $750 million per year.”
The initiative noted that the Treasury Department must keep “a physical lockbox” to collect the more than 100 million checks it processes each year, which costs about $2.40 per check to maintain.
In fiscal year 2023, some $25 billion in tax refunds were delayed or lost due to returned or expired checks, according to DOGE.
Anyway, in case you're wondering, I was kidding about the $1.75 in the title--I don't want to exaggerate and make it sound so big.
People in Washington, D.C. have been freaking out and searching online how to clean their computer data from their own devices--seriously. They should contact Hillary Clinton for the best advice and purchase Bleach Bit and a hammer, just in case.
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