Pentagon Begins First Ever Financial Audit and Congress Is Terrified!
For decades, the Pentagon has been the largest purveyors of wasted money in the United States government, and we are about to find out exactly how bad it has been.
Now before we begin, let me make it clear. I am totally for spending every dime our Pentagon needs to adequately keep our country safe. I am also very pro-business and believe that contractors should make a profit within the bounds of supply and demand.
I do not however, condone waste fraud and abuse. There is a reason that I often quote Herman Cain when he said that the federal government cannot micro-manage.
(Yes, Senator John McCain and Senator Bob ‘Cork the Dork’ Corker… BUSTED BOYS!)
The Pentagon should have, a long time ago, been scrutinized closely with their spending. Especially considering the huge budget of tax-payer monies that they use. I do not believe that money has been used wisely.
But back to the story.
“The Defense Department is starting the first agency-wide financial audit in its history,” the Pentagon’s news service says, announcing that it’s undertaking an immense task that has been sought, promised and delayed for years.
Of the tally that is starting this week, chief Pentagon spokesperson Dana W. White said, “It demonstrates our commitment to fiscal responsibility and maximizing the value of every taxpayer dollar that is entrusted to us.”
“Beginning in 2018, our audits will occur annually, with reports issued Nov. 15,” the Defense Department’s comptroller, David L. Norquist, said.
President Trump is a fiscal hawk. And no department of the government falls outside of scrutiny. He made it clear during the election:
On defense, in a race in which all of his Republican rivals favor increasing military spending, Trump promised instead to go after waste and profiteering in the defense industry. “I hear stories, like they’re ordering missiles they don’t want because of politics, because of special interests,” Trump said. “Because the company that makes the missiles is a contributor.” There is so much of that kind of corruption in the Pentagon, Trump said, that he will be able to build up the military without actually spending more, just by putting an end to wasteful and corrupt practices.
Back in May, Pentagon comptroller, David Norquist, the previous CFO for the Department of Homeland Security announced the audit.
“Starting an audit is a matter of driving change inside a bureaucracy that may resist it,” Norquist told members of the Armed Services Committee.
According to the DoD release:
The audit is massive. It will examine every aspect of the department from personnel to real property to weapons to supplies to bases. Some 2,400 auditors will fan out across the department to conduct it, Pentagon officials said.
You can bet there are many at the Pentagon, as well as government contractors, sweating this audit.
So guess where all this will eventually lead? Congress.
Congress…both sides. We might now get to the bottom of the swamp.
As Zero Hedge reports, we’re talking multiple trillions of missing money:
The Pentagon is no stranger to criticism over serious waste and purposefully sloppy accounting. A DoD Inspector General’s report from 2016 – which appears to be unavailable on the DoD website (but fortunately WAS archived)- found that in 2015 alone a staggering $6.5 trillion in funds was unaccounted for out of the Army’s budget, with $2.8 trillion in “wrongful adjustments” occurring in just one quarter.
In 2015, the Pentagon denied trying to shelve a study detailing $125 billion in waste created by a bloated employee counts for noncombat related work such as human resources, finance, health care management and property management. The report concluded that $125 billion could be saved by making those operations more efficient.
On September 10th, 2001, Secretary of Defense Donald Rumsfeld announced that “According to some estimates we cannot track $2.3 trillion in transactions,” after a Pentagon whistle-blower set off a probe. A day later, the September 11th attacks happened and the accounting scandal was quickly forgotten.
Trillions folks. This is huge. This will be THE story of 2018.
It is high time the American tax-payers got answers and the Pentagon started spending money with efficiency. We could very well see an ability to cut spending, and accomplish more.
The military has been a carrot that our members on Capitol Hill have abused too long. I hope we have some resignations out of this. I have no doubt that Senator John McCain is one of the biggest offenders, as well as Senator Bob ‘Cork the Dork’ Corker from Tennessee.
Bring it on!!!