The US Army’s accounting is so bad that they had to make trillions — that’s $8.5 trillions of dollars — in improper — that’s improper — accounting adjustments to trick people into thinking the books are balanced. The loss has accumulated since 1996.
According to the Defense Department’s Inspector General report in June the Army made $2.8 trillion in inaccurate adjustments in one quarter of 2015 alone. They lost at least $8.5 trillion since 1996. The Army didn’t have invoices or receipts and made the numbers up.
They just kept fudging the numbers.
Allegedly the problems have existed for decades. That’s stunning since big government is so wonderful — just ask the Democrats.
In 2013, Reuters revealed in a series that the DoD fudged the books and the IG found their report accurate.
This DoD budget accounts for $573 billion, more than half of the annual budget appropriated by Congress and they want an increase. We should tell them we will increase it by $8.5 trillion but they have to find it.
The IG concentrated on the biggest budget – the Army’s General Fund with assets of $282.6 billion in 2015 did not have required data and much of that was inaccurate, the IG said.
Jack Armstrong, a former Defense Inspector General official in charge of auditing the Army General Fund, assured Americans that they will solve the problems and they aren’t as bad as depicted.
Some employees of the Defense Finance and Accounting Services (DFAS), which handles a wide range of Defense Department accounting services, referred sardonically to preparation of the Army’s year-end statements as “the grand plug,” Armstrong said. “Plug” is accounting jargon for inserting made-up numbers.
“Where is the money going? Nobody knows,” said Franklin Spinney, a retired military analyst for the Pentagon and critic of Defense Department planning.