So, any thoughts on how a trillion dollars would appear and disappear every year, year after year? It seems like it would have to show up somewhere.
Are you talking about the Pentagon or the Fed? I haven't heard that about the Fed.
As to the Pentagon, from everything I've heard the record keeping is a huge mess and they simply don't have the systems in place to track all of the activity agency-wide.
That's changing as they invest in accounting infrastructure, and this first attempt at a real audit is a good start.
Everyone knew that the audit would reveal lots of holes, but I haven't seen any accusations of wrongdoing.