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MSU Scholars Find $21 Trillion in Unauthorized Government Spending
Key Excerpts from Article on Website of MSU Today (Michigan State University's newspaper)
Posted: January 22nd, 2018
http://msutoday.msu.edu/news/2017/msu-scholars-find-21-trill...
Earlier this year, a Michigan State University economist, working with graduate students and a former government official, found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015. The work of Mark Skidmore and his team, which included digging into government websites and repeated queries to U.S. agencies that went unanswered, coincided with the Office of Inspector General, at one point, disabling the links to all key documents showing the unsupported spending. Now, the Department of Defense has announced it will conduct the first department-wide, independent financial audit in its history. The Defense Department did not say specifically what led to the audit. But the announcement came four days after Skidmore discussed his teams findings on USAWatchdog, a news outlet run by former CNN and ABC News correspondent Greg Hunter. Skidmore got involved last spring when he heard Catherine Austin Fitts, former assistant secretary of Housing and Urban Development, refer to a report which indicated the Army had $6.5 trillion in unsupported adjustments, or spending, in fiscal 2015. Given the Armys $122 billion budget, that meant unsupported adjustments were 54 times spending authorized by Congress. Typically, such adjustments in public budgets are only a small fraction of authorized spending. Skidmore thought Fitts had made a mistake. Maybe she meant $6.5 billion and not $6.5 trillion, he said. So I found the report myself and sure enough it was $6.5 trillion.
Note: Explore this webpage for additional background on this story. See also a detailed analysis of these missing trillions, which amount to $65,000 per man, woman, and child in the US. And don't miss this highly revealing interview with Prof. Mark Skidmore of Michigan State with even more startling news. Why isn't the major media reporting this huge news?