"Indeed, in a report released in June, the Defense Department’s inspector general admitted that just one branch of the military, the Army, made $6.5 trillion in wrongful adjustments to accounting entries. In many cases, the Army had no receipts or even invoices to support those expenditures. Incredibly, according to the report, in some cases, the Army simply invented the adjustments out of thin air.But trust them anyway.
Just like the Fed.
In case you are wondering, this isn’t exactly a new problem. Back in 2001, former Department of Defense Secretary Donald Rumsfeld made this astonishing admission:
“According to some estimates, we cannot track $2.3 trillion in transactions.”"
Tuesday, September 20, 2016
War
Pentagon inspector general identifies $6.6 trillion in Army accounting problems.
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