This is the worst example of waste I have ever heard of! Thomson Reuters, the news mega giant and one of the 4 news real agencies in America, did this study and found that the governments waste up to 800 billion this year. Yes it is billion, with a freaking b!

37% of the waste is to have protection against malpractice suits. 22% is just wasted fraud, where are the Feds!? Aren’t they supposed to settle this? Having a rigid paper system alone wastes up to $60 billion a year! Administrative inefficiency and medical mistakes take up 18% and 11% respectively. What are we thinking wasting all this money away!

$800 billion. What was our government and our Presidents doing the last 10 years? Was President Clinton too busy with interns in the Oval Office? Was President Bush just too dumb not to understand how big $800 billion was.

$800 billion, that is close to the cost of the stimulus package, every year. $800 billion, that is higher than the defense budget. $800billion, that is more than what we gave out to corporations via TARP last year. It is bloody insane that this had gone unnoticed!

The best part is that Reuters reports that there is at least $505 billion in wastage every year. So we are wasting at least half a trillion a year! I really though that the President was exaggerating it when he said that we could save half a trillion in Medicare by cutting wastes, but he was proven right!

There is also the perspective of the national debt here. $500 billion may be today’s figure, but I bet that we have wasted $2.5 trillion in the last ten years. If we are to include long term interest, we are going to get the figure to be around $3trillion. And that is at the lowest end of the spectrum.

Do you know what does this mean? It means that all the while health care has all along been the huge component of the national deficit. All the while everybody, including me, had been ignoring these numbers at our own peril! We must wake up to this!

The report also suggests that $1 out of every $3 of our health care bill is a waste. $1 in $3! Can you imagine what would happen if this kind of wastage happens outside government? I sure know that my boss would fire me if I wasted that ratio of office funds!

Where in the world are the other so called news agencies in America reporting this? Where is FOX News, MSNBC, CNN, HLN, PBS and so on. Isn’t this the top news? What can be bigger than this? Hillary Clinton, Balloon Boy hoax, ACORN (guess which channel still runs that nonsense?) or the LA Dodger’s divorce? Why don’t they report this at all?

It is time that we hang place politicians feet by the fire! Having entire bodies of Congress ignoring this is next to treason to me! It really appalls and offends me! That being said, we should give credit where it is due and we would like to thank our President for bringing this up.

Please visit http://www.reuters.com/article/newsOne/idUSTRE59P0L320091026?pageNumber=1&virtualBrandChannel=0 for further reading

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