Minnesota Fraud - The Tip of the Iceberg
Ramblings of an Old fart. - by Craig Warren
Episode notes
What we are seeing in Minnesota is just the Very Small tip of a very large iceberg. If we use their numbers and extrapolate for a national figure we are a over a halt a Trillion dollars and I think in the final analysis it will be much larger.. However we have other contributing factors that make it much worse than just the amount of the Fraud. I call this whole thing the 4 whammy's
1- the fraud itself
2- The interest. We are in deficit spending in the U.S. so in fact every dollar stolen is borrowed money.
3-We have at ;east 14 states who are projected to have deficits this year so they will intern have to pay interest on their shortfalls.
4- Much of the fraud money is being sent out of the country according to FBI investigations. According to econ ...