A Pentagon Audit in July 2016 Revealed $6.5T Unaccounted for

[FollowTheWay]

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.

http://tinyurl.com/zd95lds - Fox News
$6.5 trillion missing from Defense Department
DoD IG - Reports and Publications - Army General Fund Adjustments Not Adequately Documented or Supported - Office of Inspector General, U.S. Dept. of Defense audit report

 

[MennoSota]

Arms sales to fund Treadwell... [emoji6]

 

[InTheLight]

Ha ha, sure. The government does not know where $6.5 trillion went. This is the equivalent of more than 12 years of total spending by the Department of Defense.

Your link is to World Net Daily, not the most trusted web site for accuracy.

Sent from my Moto Droid Turbo.

 

[Rob_BW]

DoD never on the chopping block? Budget Control Act of 2011 ring a bell?

 

[FollowTheWay]

Ha ha, sure. The government does not know where $6.5 trillion went. This is the equivalent of more than 12 years of total spending by the Department of Defense.

Your link is to World Net Daily, not the most trusted web site for accuracy.

Sent from my Moto Droid Turbo.

What about my link to your favorite news source (NOT MINE) Fox News and to the pentagon itself?

 

[FollowTheWay]

DoD never on the chopping block? Budget Control Act of 2011 ring a bell?

How do you feel about $6,5T of pentagon funding that can't be traced?

 

[Rob_BW]

How do you feel about $6,5T of pentagon funding that can't be traced?

Well, obviously I think such a government should be entrusted with managing a single payer healthcare scheme.

 

[FollowTheWay]

Well, obviously I think such a government should be entrusted with managing a single payer healthcare scheme.

No, a serious investigation of where military funding is going should be started immediately. If you ask that question how can you support Trump's recommendation to INCREASE military spending? It should be cut in half.

 

[Rob_BW]

No, a serious investigation of where military funding is going should be started immediately. If you ask that question how can you support Trump's recommendation to INCREASE military spending? It should be cut in half.

So you agree that such a bureaucratic monstrosity would be bad for healthcare?

Government bureaucracy is inefficient. I know this. I've worked for the government in some form or another my entire adult life. Oh, the stories I could tell. That's why I favor free market solutions for most problems.

Defense, though, that is tricky. Do you want privatized defense? A mercenary force in place of DoD?

 

[InTheLight]

What about my link to your favorite news source (NOT MINE) Fox News and to the pentagon itself?

Wow, you're batting .000

Faux News is not my favorite news source. I barely read it, mostly because their web pages are cluttered, confusing, and full of ads.

There is no possible way that 12 years of defense spending disappeared.

Sent from my Nexus 7 using Tapatalk

 

[Baptist Believer]

Every time this story gets repeated, it gets twisted a bit. The way it is often reported is that the Pentagon "lost", is "missing", or "can't account" for an enormous amount of money. The story is actually that the standards of accounting used by the Pentagon are not up to modern standards for the 6.5 trillion of spending.

The story gets dragged out every few years with various amount. Not that long ago the figure was 8.5 trillion and someone explained what was really going on.

 

[FollowTheWay]

Wow, you're batting .000

Faux News is not my favorite news source. I barely read it, mostly because their web pages are cluttered, confusing, and full of ads.

There is no possible way that 12 years of defense spending disappeared.

Sent from my Nexus 7 using Tapatalk

Sorry about wrongfully criticizing you for being a Fox News fan. It seems most here only liosten to them. I consider them to be the worst major news source just a notch above Breitbart. But look at my third link. That comes straight from the Pentagon itself. They themselves admitted misplacing $6.5T.

DoD IG - Reports and Publications - Army General Fund Adjustments Not Adequately Documented or Supported - Office of Inspector General, U.S. Dept. of Defense audit report

DoD IG - Reports and Publications - Army General Fund Adjustments Not Adequately Documented or Supported

Finding

The Office of the Assistant Secretary of the Army (Financial Management & Comptroller) (OASA[FM&C]) and the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) did not adequately support $2.8 trillion in third quarter journal voucher (JV) adjustments and $6.5 trillion in yearend JV adjustments1 made to AGF data during FY 2015 financial statement compilation.2 The unsupported JV adjustments occurred because OASA(FM&C) and DFAS Indianapolis did not prioritize correcting the system deficiencies that caused errors resulting in JV adjustments, and did not provide sufficient guidance for supporting system‑generated adjustments.

 

[FollowTheWay]

Every time this story gets repeated, it gets twisted a bit. The way it is often reported is that the Pentagon "lost", is "missing", or "can't account" for an enormous amount of money. The story is actually that the standards of accounting used by the Pentagon are not up to modern standards for the 6.5 trillion of spending.

The story gets dragged out every few years with various amount. Not that long ago the figure was 8.5 trillion and someone explained what was really going on.

 

[FollowTheWay]

Finding

The Office of the Assistant Secretary of the Army (Financial Management & Comptroller) (OASA[FM&C]) and the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) did not adequately support $2.8 trillion in third quarter journal voucher (JV) adjustments and $6.5 trillion in yearend JV adjustments1 made to AGF data during FY 2015 financial statement compilation.2 The unsupported JV adjustments occurred because OASA(FM&C) and DFAS Indianapolis did not prioritize correcting the system deficiencies that caused errors resulting in JV adjustments, and did not provide sufficient guidance for supporting system‑generated adjustments.

DoD IG - Reports and Publications - Army General Fund Adjustments Not Adequately Documented or Supported

 

[FollowTheWay]

So you agree that such a bureaucratic monstrosity would be bad for healthcare?

Government bureaucracy is inefficient. I know this. I've worked for the government in some form or another my entire adult life. Oh, the stories I could tell. That's why I favor free market solutions for most problems.

Defense, though, that is tricky. Do you want privatized defense? A mercenary force in place of DoD?

I want a full disclosure of where the missing trillions of dollars from the pentagon went. Do you think this is acceptable? This money might have gone to foreign countries or U.S. corporations. A minimum funding of the military should be provided until this question is answered.

 

[FollowTheWay]

Well, obviously I think such a government should be entrusted with managing a single payer healthcare scheme.

That's a non-sequitur. Where did that money funding the Pentagon go? Don't you care?

 

[Baptist Believer]

I want a full disclosure of where the missing trillions of dollars from the pentagon went.

Trillions of dollars are not missing. It is the way they "account" (as in accounting) for it.

Do you think this is acceptable?

No, the government should properly document their accounts better than they have - at least to the standards that the IRS holds businesses.

 

[Rob_BW]

I want a full disclosure of where the missing trillions of dollars from the pentagon went. Do you think this is acceptable? This money might have gone to foreign countries or U.S. corporations. A minimum funding of the military should be provided until this question is answered.

Of course money went to foreign countries and US corporations. Why wouldn't it?

And what are you going on about minimum funding? You can fund or downsize. But an aircraft carrier, and armored brigade, a fleet of bombers. You can't just sit on them. Because before you know, without constant upkeep, they'll rust into the ground.

Now, if you want to discuss procurement, we can do that. Our procurement process is completely jacked up, in my opinion. But that's a separate issue.

 

[Revmitchell]

How do you feel about $6,5T of pentagon funding that can't be traced?

I feel we need to ask obama what he did with it.

 

[FollowTheWay]

Pentagon missing $2.3 trillion Rumsfeld Exposed 9/10/2001