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Taxpayers Fork Out $890,000 For Fees On Unused Government Bank Accounts

April 24, 2013 by  

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 Postthe 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.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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