Pentagon "Misplaces" 2.3 TRILLION DOLLARS!!!

Provocative1
Pentagon"Misplaces"2.3 TRILLION DOLLARS!!!
Wed Jul 7, 2004 19:00
64.12.116.205

US Government "misplaces" $3.3 trillion
Beyond Enron and WorldCom lies a much bigger scandal: the "misplacement" of over $3 trillion of taxpayers' money by the US government. This story hasn’t gone completely unreported. For example, CBS News quoted Donald Rumsfeld as saying, "according to some estimates we cannot track $2.3 trillion in transactions."

According to Catherine Austin Fitts, former Assistant Secretary of Housing and Urban Development (HUD), "total undocumented accounting adjustments [...] for the Department of Defense [and HUD for fiscal 1998-2000] amount to a whopping $3.3 trillion, or $11,700 for every American." More >

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provocative1
(maverick)
07/07/04 01:59 PM
Pentagon "misplaces" $2.3 trillion [ Post 292764179 ]


Category: News & Opinion (General) Topic: International Affairs
Synopsis: Where did it go??? Into thin air?
Source: www.anxietyculture.com
Published: July 7, 2004 Author:
For Education and Discussion Only. Not for Commercial Use.


http://www.anxietyculture.com/cbs.htm


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http://www.anxietyculture.com/cbs.htm

Pentagon "misplaces" $2.3 trillion

"According to some estimates we cannot track $2.3 trillion in transactions."
(Donald Rumsfeld, quoted on CBS News, 29/1/02)

Rumsfeld admitted that the Pentagon misplaced $2.3 trillion. This money has disappeared – nobody knows where it's gone. Government officials have blamed the accounting systems – the US Department of Defense has failed to produce independently audited accounts since 1995.

See the full CBS News story:
http://www.cbsnews.com/stories/2002/01/29/eveningnews/main325985.shtml
(Note: the full CBS text is also given below)



US Department of Defense confirms trillions "loss"

The $2.3 trillion figure is confirmed in the following DoD documents (which include transcripts of testimony before the House Budget Committee and a speech by Rumsfeld):

http://www.defenselink.mil/news/Apr2002/n04032002_200204033.html
http://www.defenselink.mil/speeches/2001/s20010910-secdef.html
http://www.defenselink.mil/news/Feb2002/n02202002_200202201.html
http://www.defenselink.mil/speeches/2001/s20010711-depsecdef2.html

For related details see:
http://www.anxietyculture.com/bulletin030903.htm

CBS News story 29/1/02: The War on Waste

(CBS) On Sept. 10, Secretary of Defense Donald Rumsfeld declared war. Not on foreign terrorists, "the adversary's closer to home. It's the Pentagon bureaucracy," he said.

He said money wasted by the military poses a serious threat.

"In fact, it could be said it's a matter of life and death," he said.

Rumsfeld promised change but the next day – Sept. 11 – the world changed and in the rush to fund the war on terrorism, the war on waste seems to have been forgotten.

"According to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.

$2.3 trillion – that's $8,000 for every man, woman and child in America. To understand how the Pentagon can lose track of trillions, consider the case of one military accountant who tried to find out what happened to a mere $300 million.

"We know it's gone. But we don't know what they spent it on," said Jim Minnery, Defense Finance and Accounting Service.

Minnery, a former Marine turned whistle-blower, is risking his job by speaking out for the first time about the millions he noticed were missing from one defense agency's balance sheets. Minnery tried to follow the money trail, even crisscrossing the country looking for records.

"The director looked at me and said 'Why do you care about this stuff?' It took me aback, you know? My supervisor asking me why I care about doing a good job," said Minnery.

He was reassigned and says officials then covered up the problem by just writing it off.

"They have to cover it up," he said. "That's where the corruption comes in. They have to cover up the fact that they can't do the job."

The Pentagon's Inspector General "partially substantiated" several of Minnery's allegations but could not prove officials tried "to manipulate the financial statements."

Twenty years ago, Department of Defense Analyst Franklin C. Spinney made headlines exposing what he calls the "accounting games." He's still there, and although he does not speak for the Pentagon, he believes the problem has gotten worse.

"Those numbers are pie in the sky. The books are cooked routinely year after year," he said.

Another critic of Pentagon waste, Retired Vice Admiral Jack Shanahan, commanded the Navy's 2nd Fleet the first time Donald Rumsfeld served as Defense Secretary, in 1976.

In his opinion, "With good financial oversight we could find $48 billion in loose change in that building, without having to hit the taxpayers."

(From: http://www.cbsnews.com/stories/2002/01/29/eveningnews/main325985.shtml 

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Earth_AD
(revolutionary)
07/07/04 02:02 PM
Re: Pentagon "misplaces" $2.3 trillion [ To: provocative1 | Post 292764189, reply to 292764179 ] (Score: 2)


Eh, so what? The US Treasury can always just print $2,300,000,000,000 more dollars, right?




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joeschmuck
(insurgent)
07/07/04 02:12 PM
Re: Pentagon "misplaces" $2.3 trillion [ To: Earth_AD | Post 292764217, reply to 292764189 ] (Score: 2)


Easy come, easy go.

Just tack it onto the taxpayer's tab. They won't mind.




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max_108
(rebel)
07/07/04 02:13 PM
Re: Pentagon "misplaces" $2.3 trillion [ To: provocative1 | Post 292764221, reply to 292764179 ] (Score: 2)


wherethey had a very crafty thief... I mean "chief" financial officer, who happens to be a rabbi too... retired very recently with all honors...remember?




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sparksalot
(rebel)
07/07/04 02:13 PM
Re: Pentagon "misplaces" $2.3 trillion [ To: provocative1 | Post 292764223, reply to 292764179 ] (Score: 2)


Oh well, a trillion here, a trillion there, what's the difference when it comes to the Pentagon. It's all for a good cause........right??




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