Commentary
The Department of Government Efficiency (DOGE) made a groundbreaking move on the evening of the inauguration by delving into the long-restricted payment systems of the U.S. Treasury Department. This action stirred chaos among five former Secretaries of the Treasury, who fiercely opposed such access, claiming it was reserved only for a select few career civil service employees.
The ensuing headlines reflected panic, prompting questions as to why. Shouldn’t the government’s financial records be open to the new administration during a transition of power? Surprisingly, the answer was no. These records have never been accessible to any administration and are closely guarded by a small group of career officials.
Following this, protests, objections, and a temporary legal order ensued. Concerns were raised about the potential compromise of established systems, privacy violations, data security risks, and disruption to a system that has been in place since the days of Franklin Delano Roosevelt.
While the judge’s order allowed DOGE to map and audit certain departments they were investigating, full access to the payment systems – which have seen $193 trillion flow through since World War II without scrutiny from elected officials or their appointees – remained restricted.
This situation calls for a closer examination of the implications and justifications behind this policy, particularly in the realm of finance.
Reflecting on a past financial scandal, Bernie Madoff’s Ponzi scheme, which went undetected for years despite his reputation as a financial visionary, sheds light on the dangers of restricted access to financial records. Madoff’s secretive operations eventually unraveled, revealing massive losses and deception.
The parallels between Madoff’s concealment of financial records and the limited access to the Treasury Department’s payment systems underscore the importance of transparency and oversight in financial matters. The need for regular audits, as emphasized by the Founding Fathers, remains crucial to prevent potential fraud and mismanagement.
As DOGE’s efforts bring to light the lack of access to critical financial data within the government, it raises questions about the true transparency of public finances and the need for greater accountability in financial management.
We only have access to information that we are told, but without detailed verification against standard accounting practices, it is difficult to truly know what is happening in the private sector.
In the aftermath of a breach of security, there have been numerous excuses given as to why certain individuals, such as Musk, cannot access certain information. These excuses mirror those used by Bernie Madoff in the past. The lack of transparency in government financial dealings, dating back to 1946, has led to trillions of dollars flowing in and out without proper oversight.
Efforts to prevent transparency in government finances raise suspicions and questions about what is being hidden. The solution to these doubts is to open the books and adhere to professional accounting standards. Achieving this level of transparency could be a defining moment for the Trump administration.
It is important to note that the opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Epoch Times.
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