Posted on 05/18/2023 9:45:43 AM PDT by janetjanet998
JUST IN - Pentagon overvalued US equipment it sent to Ukraine by around $3 billion, a Senate aide and a defense official said on Thursday, an error that opens up the possibility of more weapons being sent to Kyiv for its defense against Russian forces, Reuters reports
A bank error in your favor (wink wink)
The defense official said it is possible the amount of overvalued weaponry could grow as the Pentagon examines the situation more thoroughly, increasing the $3 billion
https://www.reuters.com/world/europe/pentagon-accounting-error-overvalued-ukraine-aid-by-3-billion-sources-2023-05-18/
The US government values its inventory of often obsolete stuff its sent to Ukraine (like all those surplus Humvees, M113’s and MRAPs) at purchase price, not fair market value.
As long as The Big Guy got his 10%, it’s all good.
Meanwhile Fed.gov debt is at $32 Trillion
How much longer can we play this game?
How many top people in the Pentagon live in DC Mansions they should NOT be able to afford?
Ivestigate WOKE corruption.
“values its inventory of often obsolete stuff its sent to Ukraine (like all those surplus Humvees, M113’s and MRAPs) at purchase price, not fair market value.”
The price that the Army sells equipment is called the AMDF price. This is the purchase price plus a surcharge which is used to pay all the costs associated with procuring, repairing, etc those asset.
For consumable items the AMDF price is for a new item. For repairable items, the AMDF price is the same whether the item is brand new or has been repaired a hundred times. The Army does not depreciate their inventory however when items are deemed excess and no longer needed, they are often sold at auction or for their scrap value.
Why not use that $3,000,000,000 and return it to the taxpayers?
So we scammed them or did we scam our taxpayers?
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