Related Stories
How to Blow $700 Billion
Key Excerpts from Article on Website of Rolling Stone
Posted: April 1st, 2019
https://www.rollingstone.com/politics/politics-news/how-to-b...
According to a study led by Michigan State University professor Mark Skidmore, some $21 trillion in Pentagon accounting transactions, made over a 17-year period, lack supporting data. This doesnt mean the money is gone - the Pentagon only received roughly $9.2 trillion in budget money during that time - but it does mean the system is so choked with bad numbers, we have little idea of what mischief might be taking place at the Department of Defense. Double-billing [is] an alarmingly simple scheme. As Andy the Air Force accountant puts it: A contractor accidentally invoices the military twice. It gets paid twice. For example, one company got paid in full for delivering just 28 percent of a lug-nut contract; or the Swiss contractor that supposedly over-billed by $757 million to supply the troops in Afghanistan. In one of the worst military scandals in recent history, a contractor called Fat Leonard reportedly bribed Navy officials with prostitutes and more than $500,000 in order to steer Navy boats to his portside service centers, where he systematically overbilled taxpayers. The ... grifter got more than $200 million in Navy contracts. On paper, the military can lose track of even big things like 39 Black Hawk helicopters. But Andy thinks if independent analysts get to actually count the stuff thats supposed to be sitting in depots, this will [reveal] the true extent of the corruption and/or disorganization in the military.
Note: Read more about the Pentagon's massive accounting frauds in this article. Read a 2017 article documenting the investigation which found $21 Trillion unaccounted for in government coffers. Then read summaries of several major media articles showing the Pentagon's blatant lies and disregard for accounting. For more along these lines, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.
Related Stories
Latest News
Key News Articles from Years Past
