The White House and several officials continue to moan and groan and cry “wolf” over sequester cuts, but here’s yet another story to illustrate why bureaucrats reap what they sow. This year, the Federal government is slated to spend nearly $1 million on service fees for bank accounts that it doesn’t use.
According to The Washington Post, the Federal government currently has 13,712 bank accounts with nothing in them, which will cost taxpayers at least $890,000 in banking fees for the year.
The accounts are supposed to be closed by bureaucratic employees, but it seems no one really wants to do the paperwork required to close them. So, as government workers and the White House continue to talk about the devastating impacts of sequester, taxpayer dollars are still being used to pay $65 per year, per account to keep them open.