Chairman Issa Announces Oversight Hearing on Waste, Fraud and Abuse in Federal Spending

Chairman Issa Announces Oversight Hearing on Waste, Fraud and Abuse in Federal Spending

Washington– Representative Darrell Issa, R-Calif., chairman of the Committee on Oversight and Government Reform, announced today he will hold a full committee hearing examining waste, fraud, and abuse in federal spending this Thursday. Determining an exact figure for the amount of federal spending lost each year to waste, fraud and abuse is difficult. Earl Devaney, chairman of the Recovery Accountability and Transparency Board, cites figures from the Association of Certified Fraud Examiners stating that “fraud experts estimate that U.S. organizations lose 7 percent of revenues to fraud and waste.” Using this estimate, the federal government lost a staggering $228 billion of taxpayer money to waste, fraud, and abuse in FY 2010 alone. Thursday’s hearing will include a panel of experts who will testify about wasted government spending and present ideas on reducing and eliminating such losses.

Date: Thursday February 17, 2011

Start Time: 9:30 a.m.

Location: Capitol Visitors Center HVC-210

Title: Waste and Abuse: The Refuse of the Federal Spending Binge

Witnesses:

• The Honorable Gene L. Dodaro, Comptroller General of the United States, Government Accountability Office

• Dr. Veronique de Rugy, Senior Research Fellow, Mercatus Center at George Mason University

• Ms. Debra Cammer, Vice President and Partner, IBM Public Sector

• Mr. Vincent Frakes, Federal Policy Manager, Center for Health Transformation

• Mr. Thomas A. Schatz, President, Citizens Against Government Waste

• Mr. Gary Kalman, Director, Federal Legislative Office, US PIRG

• Mr. Andrew Moylan, Vice President of Government Affairs, National Taxpayers Union

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