As members of Congress fight over what to cut in the current federal budget to avert a government shutdown, lawmakers are about to receive a blockbuster report that could provide a roadmap to potentially hundreds of billions of dollars in waste. The nonpartisan General Accounting Office (GAO) is poised to release a report Tuesday that one senator said “will make us all look like jackasses.”

“Go study that (report). It will show why we’re $14 trillion in debt,” said Sen. Tom Coburn, R-Okla. “Anybody that says we don’t look like fools up here hasn’t read the report.”

The report, a summary of which was obtained by Fox News, was mandated by Congress the last time it raised the debt limit in January 2010. In its analysis of federal agencies, the GAO found 33 areas with “overlap and fragmentation.”

“Reducing or eliminating duplication, overlap, or fragmentation could potentially save billions of taxpayer dollars annually and help agencies provide more efficient and effective services,” the report says. In one example, the report found that if the Defense Department were to make “broader restructuring” of its “military health care system” it “could result in annual savings of up to $460 million.”

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