It’s not an error when $520B goes missing. That’s grand theft on a grand scale. There’s only one answer: “Lock her up” and lock Barack and the rest of his corrupt minions up too.
What I want to know is how $520 billion can go missing in an agency with an annual budget of less than $50 billion.
Absolutely right and the Pub's need to start using the term "theft" otherwise the MSM will accuse the Pub's of prosecuting common human errors.
What is the budget for HUD? $520 billion is a lot to just get lost in the shuffle. Is this for the last 8 years? But - it shows the HUGE size of government today.
$520 billion didn’t go missing. The article is misleading, my guess is Hannity doesn’t understand, especially since the actual audit was started by the auditor last year, before Trump was President.
HUD has a budget of about $50 billion. They have an expense account, and they also have “notes”. Notes have value, and they have a lot of value stored in things controlled by HUD. (Good luck finding THAT number though).
Anyway, they found $3.7 billion dollars wrong in the budget spending.
For the “notes”, they found errors in notes, and the absolute value of the “notes” for which they found errors was $520 billion. That doesn’t tell you what the monetary amount of error was, or whether the error was positive or negative.
The errors are largely accounting errors, not following basic principles, not following legal requirements. Like they are supposed to round all their valuations to one million, but have been rounding to a billion. So you could have something that is valued at $2 billion, but it should have been $1.743 billion, or $2.124 billion. THe “error” would be 124 million, or 267 million, but it was on a “2 billion” note.
Some of the errors aren’t even monetary, but still count as part of the “notes” that are worth “$520 billion” that have errors.