Wracked by Corruption and Fraud, the Pentagon Is Now Increasingly Exposed
TheDailyBell.com
August 20, 2016
Air Force ballistic missile upgrade said to be stalled over cost … The U.S. Air Force’s program to develop and field an intercontinental ballistic missile to replace aging Minuteman III weapons is stalled over Pentagon concerns the service underestimated the cost by billions of dollars, according to a defense official familiar with the program. – Stars and Stripes
The Pentagon seems to be getting an attack of fiscal responsibility as we can see from the above article excerpt.
Only it is in the wrong direction.
The Pentagon is worried the US Airforce is underestimating how much its new intercontinental ballistic missile is going to cost.
As we write, the Pentagon is being exposed to significant negative media commentary regarding its inability to track upwards of $8 trillion of budgetary items.
See here, from Zerohedge:
Shocking Government Report Finds $6.5 Trillion In Taxpayer Funds “Unaccounted For”
Last week, we first touched on a topic which, in any non-banana republic, would be a far greater scandal than what Ryan Lochte may or may not have been doing in a Rio bathroom: namely, government corruption, falsification and potential fraud and embezzlement, which has resulted in the Pentagon being unable to account for up to $8.5 trillion in taxpayer funding.
Today, Reuters follows up on this disturbing issue, and reveals that the Army’s finances are so jumbled it had to make trillions of dollars of improper accounting adjustments to create an illusion that its books are balanced.
… The Army’s financial statements for 2015 were “materially misstated.” … “Forced” adjustments rendered the statements useless because “DoD and Army managers could not rely on the data in their accounting systems when making management and resource decisions.”
The initial story ZeroHedge refers to came from The Daily Bell (here), and while the lack of proper Pentagon accounting is a huge story, what is even bigger in our view is the constant fabrication of Pentagon technological successes.
The Rest…HERE
