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Report: Pentagon doesn't know where the money is going
Key Excerpts from Article on Website of MSNBC
Posted: October 18th, 2011
http://openchannel.msnbc.msn.com/_news/2011/10/13/8294595-re...
The Defense Department, which has promised to publish a reliable account of how it spends its money by 2017, has discovered that its financial ledgers are in worse shape than expected and that it will have to spend billions of dollars in the coming years to make its financial accounting credible, the Center for Public Integrity reported [on October 13]. The U.S. military has spent more than $6 billion to develop and deploy new financial systems, but the effort has been plagued by significant added overruns and delays, defense officials told the CPI, a nonprofit investigative news organization. The Government Accountability Office said in a report last month that although the services can now fully track incoming appropriations, they still can't demonstrate that their funds are being spent as they should be. The Pentagons bookkeeping has come under increased scrutiny as Congress and the Obama administration have vowed to reduce the federal deficit. The department could face substantial cutbacks if a special bipartisan "supercommittee" cant agree on a formula for reducing the deficit.
Note: For an essay by a top U.S. general revealing how wars are used to bring huge profits to the powerful elite of our world, click here. For lots more from reliable sources on government corruption, click here.
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