$21 Trillion Lost: Largest Theft in U.S. History No Politician Wants to Talk About

IWB ^ | Thinker

[davikkm]

Comedian Lee Camp on his show Redacted Tonight recalls the first-ever audit of the Pentagon, which is taking 2,400 auditors to do the job, trying to understand where $21 trillion in unsupported adjustments went. In his show, Camp recalled that a couple of years ago professor Mark Skidmore of Michigan State University heard Catherine Austin Fitts, former Assistant Secretary in the Department of Housing and Urban Development, say that the Department of Defense Inspector General had found $6.5 trillion worth of unaccounted for spending by the Army in 2015. Skidmore, being an economics professor, thought “she meant $6.5 billion and not $6.5 trillion”, because “trillion would mean the Pentagon misplaced more money than the Gross Domestic Product of the whole of the United Kingdom” (UK’s GDP $2.62 trillion), Camp said. “So he looked into the Inspector General’s report and he found something interesting: it was 6.5 trillion dollars!”

[Dilbert San Diego]

I’m no CPA, but, have worked in finance, and know that the debits have to equal the credits on financial reports.

So even if there isn’t good paper documentation of expenses, an accountant somewhere will enter debits and credits associated with the expenditures of funds.

So it boggles the mind that money is missing. We should be able to see in the bank account where money was spent, even if auditurs have trouble matching it with a vendor invoice.

[poinq]

The military budget is $6,100,000,000. That includes all branches and black operations. You cannot lose $21 Trillion which is the amount of our entire US debt.

[fire and forget]

I believe this amount is derived from a span of a couple decades or so.

[Chauncey Gardiner]

Wonder how much was “expiring” dollars, which expire at the end of a fiscal year if not obligated or used.

[tillacum]

Good Grief!!!! Hillary lost how many million/trillions during her tenure as Sec of State and another 6.5 trillion was lost under the Obama tenure as president, plus the “few” million he gave to Iran when he lived in OUR Whitehouse? Holy Moly...how much more did we lose during those 10 years the democrats were in power. (8 years of Obama and 2006 to Jan.2009 under the democrat rule during W’s tenure as president.

[pas]

Thanks Hawkeye. This is all because of those trays.

[Pelham]

This has the smell of bovine excrement. DoD is probably the most heavily audited of gov’t agencies.

[D Rider]

The real property system in the DOD is broken. I am very familiar with what is going on. Don’t forget, you are taking about a government that cannot balance a budget. And what financial reports are you talking about specifically?/s If you ran a private business like the Fed you would be bankrupt and in jail.

[1Old Pro]

I have a feeling we “lose” money on purpose so our enemies really don’t know what we “invest” in defense.

[GOPJ]

Department of Defense Inspector General had found $6.5 trillion worth of unaccounted for spending by the Army in 2015.

Yikes! Trillions... 6,5 trillion - more than the total amount of money earned in the United States that year...