Defense Spending

  • The Pentagon’s Bottomless Money Pit (including a personal experience)

  • $21 trillion of Pentagon financial transactions between 1998 and 2015 could not be traced, documented, or explained.

The long-awaited, Congressionally mandated Department of Defense audit concluded. Read the resulting synopsis from “The Nation”:
Pentagon’s Massive Accounting Fraud Exposed (Post with downloadable PDF file, 787 Kb)  As reported at https://www.thenation.com/article/pentagon-audit-budget-fraud/   And a shorter synopsis HERE.

Quotes from “The Nation”:

“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.”   (Underlining is mine  ~ Don)

“The Pentagon’s accounting fraud diverts many billions of dollars that could be devoted to other national needs: health care, education, job creation, climate action, infrastructure modernization, and more. Indeed, the Pentagon’s accounting fraud amounts to theft on a grand scale—theft not only from America’s taxpayers, but also from the nation’s well-being and its future.”

And such theft goes into the pockets of this country’s 1%ers!

 Check out these recently added subtopics:

DoD Cost Control

The Black Budget

Graft in the Military

Graft in the Military

Graft in the Military While in Officer Training School I applied for a position as an Ethics Review Officer. Considering recent revelations, it’s probably a good thing I didn’t get that post. ~ Don Chapin • The Pentagon’s Massive Accounting Fraud Exposed  As reported...

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Pentagon’s Massive Accounting Fraud Exposed

Pentagon’s Massive Accounting Fraud Exposed

On November 15, Ernst & Young and other private firms that were hired to audit the Pentagon announced that they could not complete the job. Congress had ordered an independent audit of the Department of Defense, the government’s largest discretionary cost center—the Pentagon receives 54 cents out of every dollar in federal appropriations—after the Pentagon failed for decades to audit itself. The firms concluded, however, that the DoD’s financial records were riddled with so many bookkeeping deficiencies, irregularities, and errors that a reliable audit was simply impossible.

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