Home » NEWS » Banking & Finance » Not an Onion headline: U.S. government to spend $890K on nothing

Not an Onion headline: U.S. government to spend $890K on nothing

If you are a federal worker on furlough this week — or an airline passenger delayed by federal furloughs — you might save your blood pressure, and go read another story.

This one is about all the money the U.S. government spends on . . . nothing.

As reported in the Washington Post, it is one of the oddest spending habits in Washington: This year, the government will spend at least $890,000 on service fees for bank accounts that have nothing in them. At last count, Uncle Sam has 13,712 such accounts, each with a balance of zero.

Read the story:

 

 

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Ted Carter

One comment

  1. Thanks for picking this up, Ted Carter. It would be hilarious if it weren’t so tragic!

Leave a Reply

Your email address will not be published. Required fields are marked *

*