Posted on 01/30/2023 12:00:36 PM PST by anthropocene_x
Auditors say the Pentagon cannot account for $220 billion worth of government-owned gear provided to military contractors—and the actual total is likely much higher.
In a report released Tuesday, the Government Accountability Office (GAO) slammed the Pentagon's handling of so-called "government-furnished property" (GFP) that has been passed off to contractors with little oversight. The GAO notes that auditors have asked for decades that the Pentagon develop a plan to account for that gear and equipment—which can include "ammunition, missiles, torpedoes," and component parts for those items—to little avail. In 2001, the Pentagon said it would address the issue by 2005. In 2020, it said the process would be complete by 2026.
Perhaps someday we'll know how much taxpayer-funded military gear has been handed out to contractors. For now, the GAO notes that the $220 billion estimate is "likely significantly understated."
It’s just a rounding error…
The Big Guy’s cut
But you have to show every $600 online transaction.
A billion here, a billion there....
Donald Rumsfield announced September 10, 2001 that the Pentagon could not account for $400 billion.
The next day was 9/11 and the story got buried.
$220 billion is not trivial. You can almost buy a side order of fries in Zimbabwe for that much.
Aaaaand it’s gone!
We pay way too much in in government taxes...
THIS IS precisely WHY it is so important for these bastards to have endless wars without them the SCUM legislators can’t line their pockets with LOST contractor money!! We barely left Afghanistan before these SCUMBAGS had us in another money laundering conflict!!
Well, 90% ok.
10% for the Big Guy.
Check Zhou Xiden’s bank account
There will never be a reasonable accounting program established for military funds. Their use of property, NAF and APP funds, job descriptions and the use of temps, with no earmarked funds, and the borrowing from Peter to pay Paul use of providing funds while making every effort to hide the slush funds they all have, is so commonplace if they were ever audited, the line to the jail would be endless.
Tack that on to the GAO, who does the audit of the IRS, has said they don’t think it’s correct and they can’t trust the entries given to them by the IRS. So this way the feds can do whatever they want with your taxpayer money, and there is no way to trace it, and the people who would do that say they have no way of trusting anything to get a proper audit.
https://www.gao.gov/blog/2019/03/28/did-you-know-the-government-gets-audited-too
wy69
Wow, thanks for reminding me. Now I am really pissed off.
The company was gifted, the DoD usually isn’t pressed for accountability.
220 Billion dollars? That is not even 1/4 Trillion dollars.
Shirley, you don’t expect those high rollers in the Pentagon
to keep track of such trifling amounts of money.
“But you have to show every $600 online transaction.”
Has that been pushed back to next year? Ebay has a statement on their page but might only be for tax info declarations by sellers.
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