Anybody else see that the Inspector General confirmed the Army fudged its books several trillion dollars in order for them to balance? If this had happened during the GWB administration (a some of it probably did) the press would be raising holy hell about it. With Obama, zilch.
Remember when Obama said the Medicare fraud $200 billion a year? Twice? Then he walked it back after asking for more money.
The system, as we know, is corrupt. And the press, instead of being a watch dog, is a cheerleader for an incompetent fool.
Anyone on this board getting a taste of these shenanigans?
http://www.reuters.com/article/us-us...-idUSKCN10U1IG
Quote:
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.
As a result, the Army’s financial statements for 2015 were “materially misstated,” the report concluded. The “forced” adjustments rendered the statements useless because “DoD and Army managers could not rely on the data in their accounting systems when making management and resource decisions.”
Disclosure of the Army’s manipulation of numbers is the latest example of the severe accounting problems plaguing the Defense Department for decades.
The report affirms a 2013 Reuters series revealing how the Defense Department falsified accounting on a large scale as it scrambled to close its books. As a result, there has been no way to know how the Defense Department – far and away the biggest chunk of Congress’ annual budget – spends the public’s money.
The new report focused on the Army’s General Fund, the bigger of its two main accounts, with assets of $282.6 billion in 2015. The Army lost or didn’t keep required data, and much of the data it had was inaccurate, the IG said.
“Where is the money going? Nobody knows,” said Franklin Spinney, a retired military analyst for the Pentagon and critic of Defense Department planning.
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A Few Trillion Dollars Here, A Few Trillion Dollars There, Pretty Soon You are Talking About Real Money...
