US Public Debt Fraud Investigation Raises Questions
President Donald Trump has suggested that US public debt may be less than previously estimated due to potential fraud in debt payments. The US Treasury's outstanding public debt currently stands at $36.2 trillion.
Billionaire Elon Musk, tasked by Trump to overhaul the federal government, has raised concerns about sensitive data access within federal agencies. Trump hinted at potential irregularities in Treasury payments, implying that fraudulent practices could reduce the perceived debt burden.
Musk's team has reportedly agreed with the Treasury Department to implement safeguards for outgoing government payments, including rationales and categorization codes. A do-not-pay list will also be regularly updated.
The potential impact of Musk's government efficiency initiatives on Treasury operations remains unclear in light of a federal judge's temporary block on his team's system access. Secretary of the Treasury Scott Bessent has stated that Musk's access is limited and payment decisions are made by other agencies.