Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Politics

DOGE says it found nearly untraceable budget line item responsible for $4.7T in payments

by admin February 18, 2025
February 18, 2025
DOGE says it found nearly untraceable budget line item responsible for $4.7T in payments

The Trump administration’s Department of Government Efficiency (DOGE) discovered an identification code linking U.S. Treasury payments to a budget line item, which accounts for nearly $4.7 trillion in payments which was oftentimes left blank.

‘The Treasury Access Symbol (TAS) is an identification code linking a Treasury payment to a budget line item (standard financial process),’ DOGE wrote in a post on X. ‘In the Federal Government, the TAS field was optional for ~$4.7 Trillion in payments and was often left blank, making traceability almost impossible. As of Saturday, this is now a required field, increasing insight into where money is actually going.’

The agency thanked the U.S. Treasury for their work in identifying the optional field.

According to the Bureau of the Fiscal Service, which is under the Treasury, TAS codes are used to describe any one of the account identification codes assigned by the Treasury and is also referred to as the ‘account.’

All financial transactions made by the federal government are classified by TAS when reporting to the Treasury and the Office of Management and Budget (OMB).

The discovery was announced on the same day DOGE appeared to have populated the DOGE.gov Savings page, which, as of Monday evening, said the total estimated savings since the establishment of the department total about $55 billion.

The savings are a combination of ‘fraud detection/deletion, contract/lease cancellations, contract/lease renegotiations, asset sales, grant cancellations, workforce reductions, programmatic changes, and regulatory savings.’

‘We are working to upload all of this data in a digestible and fully transparent manner with clear assumptions, consistent with applicable rules and regulations,’ DOGE wrote on the site, adding that the data will be updated twice per week until eventually becoming real-time.

Musk is leading DOGE to aggressively slash government waste when it comes to federal spending under President Donald Trump.

The department was created via executive order and is a temporary organization within the White House that will spend 18 months carrying out its mission.

The group has faced criticism over its access to federal systems, including the Treasury Department’s payment system, as well as moves to cancel federal contracts and make cuts at various agencies.

Attorneys general from 14 states are suing to block DOGE from accessing federal data, arguing Musk and Trump’s administration have engaged in illegal executive overreach.

The newly formed cost-cutting agency scored a win on Friday when a federal judge in Washington declined a request to temporarily block it from accessing sensitive data from the Departments of Labor, Health and Human Services and the Consumer Financial Protection Bureau.

Fox News Digital’s Hillary Vaugh and Stephen Sorace contributed to this report.

This post appeared first on FOX NEWS

previous post
Acting head of Social Security quits after clash with DOGE over data: Report
next post
Rubio meets Saudi Arabian officials ahead of US-Russia talks expected to lay groundwork for Trump-Putin summit

Related Posts

State Department approves sale of $1.4B worth of...

May 14, 2025

Congress unveils spending plan after Trump calls on...

March 9, 2025

President Trump takes on ‘Big Pharma’ by signing...

May 13, 2025

UAE’s president bestows highest civilian honor on Trump

May 16, 2025

HHS halts work at high-risk infectious disease lab...

May 2, 2025

DOGE chain of command revealed in court filing,...

March 17, 2025

Engravings on shooter’s ammo exposes Charlie Kirk assassination...

September 13, 2025

Trump secures record-shattering $1.4B for political war chest;...

June 28, 2025

Pete Marocco, mastermind behind dismantling of USAID projects,...

April 15, 2025

JONATHAN TURLEY: Justice Jackson plays pundit to dismay...

July 12, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 3

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 4

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 5

      Europe’s busiest airport is set to get bigger, as Britain green-lights tortured Heathrow expansion project

      January 30, 2025
    • 6

      Top Altcoins to Watch in 2025: An Investor’s Guide

      January 28, 2025
    • 7

      DeepSeek is giving the world a window into Chinese censorship and information control

      January 30, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved