Friday, August 19, 2016

Trillions Go Missing from the Military

Pentagon cannot account for how it spent $6.5 trillion in taxpayer cash

In the era of tightened fiscal budgets and out-of-control federal debt, the one sector of government that rarely finds itself on the chopping block is the military. But new doubts on how the Pentagon accounts for the colossal amount of taxpayer cash in its care have raised the question of whether the military needs more stringent fiscal accountability.
A Department of Defense Inspector General’s report released last week aimed to determine whether the changes in the Army General Fund data to financial statements in fiscal year 2015 were “adequately documented and supported.” The report revealed the Defense Finance and Accounting Service could not provide adequate documentation for how it spent $6.5 trillion. READ MORE