The World – The Pentagon’s Massive Accounting Fraud Exposed.

First audit of the Pentagon…EVER.   Definitely worth a read.

The numbers mentioned in the article are sooo large, its hard to imagine what that much cash looks like.  How does the US still have homeless people?  No single payer health system?  No free post-secondary education?

The US Department of Defence used to be called the Department of War until 1947.  I believe that is a more fitting name that Department of Defence.  The DoD is all about waging war all over the world.  Not a lot of defence.

The Pentagon’s Massive Accounting Fraud Exposed

Now, a Nation investigation has uncovered an explanation for the Pentagon’s foot-dragging: For decades, the DoD’s leaders and accountants have been perpetrating a gigantic, unconstitutional accounting fraud, deliberately cooking the books to mislead the Congress and drive the DoD’s budgets ever higher, regardless of military necessity. DoD has literally been making up numbers in its annual financial reports to Congress—representing trillions of dollars’ worth of seemingly nonexistent transactions—knowing that Congress would rely on those misleading reports when deciding how much money to give the DoD the following year, according to government records and interviews with current and former DoD officials, congressional sources, and independent experts.

In all, at least a mind-boggling $21 trillion of Pentagon financial transactions between 1998 and 2015 could not be traced, documented, or explained, concluded Skidmore. To convey the vastness of that sum, $21 trillion is roughly five times more than the entire federal government spends in a year. It is greater than the US Gross National Product, the world’s largest at an estimated $18.8 trillion. And that $21 trillion includes only plugs that were disclosed in reports by the Office of Inspector General, which does not review all of the Pentagon’s spending. – The Nation

read full article here

previous related posts

$21 TRILLION IN MISSING TAX MONEY – U.S. DEFENCE DEPARTMENT

IF I HAD A TRILLION DOLLARS….

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