Posted on 08/19/2016 5:16:51 PM PDT by Leaning Right
The United States Army’s finances are so jumbled it had to make trillions of dollars of improper accounting adjustments to create an illusion that its books are balanced.
The Defense Department’s Inspector General, in a June report, said the Army made $2.8 trillion in wrongful adjustments to accounting entries in one quarter alone in 2015, and $6.5 trillion for the year. Yet the Army lacked receipts and invoices to support those numbers or simply made them up.
(Excerpt) Read more at reuters.com ...
They’re following the leader, who lost —without complaint from the media— a whopping $6 billion dollars.
Well, after all, there are more important things, like transgender generals.
I don’t understand these numbers.
The entire defense budget for 2015 was about $600 million.
https://en.m.wikipedia.org/wiki/United_States_federal_budget
Debits = credits. Done.
Well Obama is Commander in Chief ,he’s in charge
$6.5 trillion in adjustments in one year? That does not sound like reality. The entire federal budget is not (yet) $6.5 trillion.
This is unbelievable. Where is the oversight?? Mac Thornberry, who is head of the armed services oversignt committee in the House, seems to be asleep at the switch but I just checked his campaign financing and it is 73% defense contractors. I am not surprised.
Hey Obama....where is the money ??? In a bank in Iran or maybe Turkey???
Buried black programs is what this is. Off the books.
Exactly. This is sensationalist nonsense.
This has been going on for decades. What would happen to any major corporation (or small business, for that matter) that engaged in similar accounting practices?
I hope you’re right.
And we won’t still be waiting for our wonder weapons when the enemy is in artillery range of the Pentagon.
Wondering out loud here.....is this were the money for Iran came from?
I worked at a major bank. You might be surprised. There were trillions of transactions involving trillions of dollars, we were full of numbers that couldn’t be explained.
Might not be for weapons.
I would guess some significant underground construction projects.
That is very much more than the total annual military budget. It has to be multi-year and deal with real property items.
Trump will bring back financial integrity. He’s a cheapskate and can’t stand waste and fraud.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.