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Pentagon can’t account for $6.5 trillion of taxpayer money – IG report
RT ^ | 08/20/16

Posted on 08/20/2016 1:18:04 AM PDT by Enlightened1

The Pentagon failed to account for $6.5 trillion in its financial statement, a recently-recovered Inspector General’s report on the 2015 fiscal year said. It reveals the audit of the Department of Defense was “materially misstated.”

The army failed to provide “accurate, complete, timely and well-supported” documents that could have explained the use of trillions of dollars in quarterly and yearend adjustments.

The US military made $2.8 trillion in wrongful adjustments in one quarter alone in 2015, and $6.5 trillion for the year, but could not provide anything that would detail what it spent the money on.

There were a total of 64,321 journal voucher (JV) adjustments made in the third quarter and 142,355 by the yearend, but only 7,083 of them were supported with detailed documentation of transactions.

The IG has also found that 16,513 of 1.3 million records were “removed” from the Pentagon’s budget system during the third quarter of the 2015 fiscal year.

“Without support for why these records were removed, we could not determine whether the records continued valid transactions,” the IG said, adding that the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) could not explain why the files were removed.

At the same time, data that Army General Funds (AGF) cited in its financial reports in both the third quarter and yearend “were unreliable and lacked an adequate audit trail,” which are necessary to confirm “accuracy, completeness and timeliness” of transactions, the Department of Defense Inspector General found.

(Excerpt) Read more at rt.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: bho44; bhodod; cultureofcorruption; dod; dodig; federalspending; militaryspending; missing; money; moneymissing; pentagon; pentagonig; taypayer; wastefraudabuse
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The shell game to support R&D and other acquisitions continues.


21 posted on 08/20/2016 3:06:56 AM PDT by Clutch Martin
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To: Enlightened1

These were weapons for al Qaeda.

Why is no one accountable for arming the Enemy?

HEADS SHOULD HAVE ROLLED!!!!!!!!!!!!!!!!!!!!!!!!!!!


22 posted on 08/20/2016 3:18:46 AM PDT by Diogenesis ("When a crime is unpunished, the world is unbalanced.")
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To: Enlightened1

The Russians wrote this. No need to call ‘BS’ on this, it IS bullshit. It’s from rt.com. They don’t have to put a sarc tag on anything, it’s all sarc.


23 posted on 08/20/2016 3:21:10 AM PDT by EandH Dad (sleeping giants wake up REALLY grumpy)
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To: Enlightened1

The annual US. budget is under $4T. Did the total DoD budget get “lost” for 10 years running to get to $7T?

dont believe everything you read...


24 posted on 08/20/2016 4:03:36 AM PDT by zek157
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To: Enlightened1

the ENTIRE DoD annual budget is about $650 BILLION.

for them to be missing $6 trillion, that would require no concept where any money has been spent for the past 10 YEARS

you’ll excuse me if i think the story doesn’t pass the smell test


25 posted on 08/20/2016 4:04:14 AM PDT by sten (fighting tyranny never goes out of style)
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To: Enlightened1

Never mind.

Just list it under the catch-all heading of “Government Waste of Taxpayer’s Hard-Earned Dollars.”

That’s where most of the money goes, anyway.


26 posted on 08/20/2016 4:07:11 AM PDT by Jack Hammer
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To: Enlightened1

I initially read this same report and it stated it was 6 Billion dollars that was unaccounted for.Thats bad enough,


27 posted on 08/20/2016 4:09:02 AM PDT by puppypusher ( The World is going to the dogs.)
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To: Enlightened1

They can’t find 6 trillion, but they can bust a Navy Seal for writing about the Bin Laden takedown and fine him over 6 million because he didn’t say ‘pretty please’ before he wrote ‘No Easy Day’.


28 posted on 08/20/2016 4:30:45 AM PDT by jimbug
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To: Enlightened1
Our annual military budget is less than $600 Billion, so how do you make $2.8 Trillion in adjustments in one quarter?
29 posted on 08/20/2016 4:34:09 AM PDT by Yo-Yo (Is the /sarc tag really necessary?)
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To: Enlightened1

a billion here, a billion there,

pretty soon you’re talking real money


30 posted on 08/20/2016 4:35:53 AM PDT by bert ((K.E.; N.P.; GOPc;WASP .... We Frack for Peace)
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To: Yo-Yo

USing the same math as our climate scientists


31 posted on 08/20/2016 4:47:53 AM PDT by Archie Bunker on steroids
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To: Enlightened1

$6.5 trillion is 10 years worth of defense budgets so how do you lose $2.8 trillion in wrongful adjustments in one quarter alone in 2015, and $6.5 trillion for the year?


32 posted on 08/20/2016 4:53:34 AM PDT by maddog55 (America Rising a new Civil War needs to happen.)
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To: Yo-Yo
Yo-Yo wrote: "Our annual military budget is less than $600 Billion, so how do you make $2.8 Trillion in adjustments in one quarter?"

Common Core math at the DoD?

33 posted on 08/20/2016 4:57:37 AM PDT by wtd
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To: Enlightened1

Your observation IMO is more of a and/both statement than an either/or statement.

Paging future president Trump: We may, however, have found the prime area for balancing the budget and starting to pay down our debt.


34 posted on 08/20/2016 5:00:42 AM PDT by 9YearLurker
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To: Enlightened1

I suspect this is a mixture of sloppy paperwork and counting bad payments 2-10 times over. There probably is a small amount of actual fraud, but most of this is bureaucratic nitpicking.


35 posted on 08/20/2016 5:02:23 AM PDT by ronnietherocket3 (Mary is understood by the heart, not study of scripture.)
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To: Enlightened1

They are making flying saucers. Duh.


36 posted on 08/20/2016 5:02:48 AM PDT by Vermont Lt
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To: Enlightened1

Please remind me again, what the GAO does?


37 posted on 08/20/2016 5:10:44 AM PDT by Fireone (The future must belong to those who tell the truth about Islam.)
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To: Enlightened1

The source is “Russia Today” - take with a grain of salt...


38 posted on 08/20/2016 5:19:31 AM PDT by newfreep ("If Lyin' Ted was an American citizen, he would be a traitor.")
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To: Enlightened1
How do you lose over 6 Trillion dollars? Sounds to me either there is A LOT of looting going or the money is being sent somewhere illegally.

Throughout history, all nations before they failed, had their treasuries looted by insiders in their government. Nothing new to see here I'm guessing.

39 posted on 08/20/2016 5:20:48 AM PDT by Don Corleone (Oil the gun, eat the cannolis, take it to the mattress.)
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To: Enlightened1

How much did the State Department lose when Hillary was Secretary?


40 posted on 08/20/2016 5:38:59 AM PDT by jch10 (Stand strong! we have a country to save!)
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