Pentagon audit reveals $6.5 Trillion in fraudulent accounting - page 2.

Moloch

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Quote from: Spendulus on August 30, 2016, 04:44:31 PM

Quote from: Moloch on August 30, 2016, 11:49:18 AM

Quote from: Spendulus on August 30, 2016, 11:46:07 AM

Quote from: Moloch on August 29, 2016, 01:23:32 PM

I'd like to point out that the military budget for 2015 was $600 Billion...

https://www.mintpressnews.com/audit-pentagon-cannot-account-6-5-trillion-dollars-taxpayer-money/219246/

Quote

“Army and Defense Finance and Accounting Service Indianapolis personnel did not adequately support $2.8 trillion in third quarter adjustments and $6.5 trillion in year-end adjustments made to Army General Fund data during FY 2015 financial statement compilation,” wrote Lorin T. Venable, the assistant inspector general for financial management and reporting. “We conducted this audit in accordance with generally accepted government auditing standards.”

The Army spent well over ten times their budget, and had no receipts for anything...

As far as I know, we aren't officially at war with anyone... are we? WTF is going on?

Please don't eagerly head for idiocy.

Nothing you said is true. "Adjustments" are not "Spending."

Adjustments refer to capital assets that might should have their values adjusted, be zeroed out due to being obselete or worn out, etc. Stuff left by the US Army in Iraq would be an example.

What they are saying is "we might have left it in Iraq, but the proper paperwork for each individual piece was not filed." Etc, etc.

Don't be a tool...

If they left $6 Trillion worth of tanks and planes behind in Iraq... they will want new ones, right?

Either way, that's bullshit... they did not leave $6Trillion worth of equipment behind.......

Adjustments to book value of assets IS NOT "SPENDING."

You do not appear to understand accounting.

Ok smartass...

Pop quiz... how much did the Pentagon "SPEND" in 2015?

Do you have any clue or are you just bullshitting?

How do you spend $600Bil, and claim 10 times that in losses?

If they did this every year, what would their net worth be?

When has the gov ever spent $6.5Trillion on the military?

Do you know how much the gov spends on military activities?

Do you know how many black ops programs aren't even listed and accounted for?

Where do you think they get the money for these unlisted black ops programs? (hint, this is how)

Spendulus

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Quote from: bryant.coleman on August 30, 2016, 01:04:28 PM

Quote from: Balthazar on August 30, 2016, 10:53:38 AM

Explains why pentagon needs more money to counter Russian aggression.

If the Americans want to counter Russia militarily, then on average they need to spend around 100 times of what the Russians are spending on their defence budget. I will give you one simple example. Ever heard of the Lockheed Martin F-35 Lightning II? That single program is going to cost the Americans some $1.508 trillion (official figures, and I suspect that the real amount might be much higher). And at the same time, the Russians have developed the technologically superior Sukhoi PAK FA, at the cost of around $10 billion.

This is simply not true. The F35 is a poorly conceived project, has poor performance and cost overruns. You can't extend that problem across the board.

Spendulus

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Activity: 2926

Merit: 1386

Quote from: Moloch on August 30, 2016, 11:49:18 AM

Quote from: Spendulus on August 30, 2016, 11:46:07 AM

Quote from: Moloch on August 29, 2016, 01:23:32 PM

I'd like to point out that the military budget for 2015 was $600 Billion...

https://www.mintpressnews.com/audit-pentagon-cannot-account-6-5-trillion-dollars-taxpayer-money/219246/

Quote

“Army and Defense Finance and Accounting Service Indianapolis personnel did not adequately support $2.8 trillion in third quarter adjustments and $6.5 trillion in year-end adjustments made to Army General Fund data during FY 2015 financial statement compilation,” wrote Lorin T. Venable, the assistant inspector general for financial management and reporting. “We conducted this audit in accordance with generally accepted government auditing standards.”

The Army spent well over ten times their budget, and had no receipts for anything...

As far as I know, we aren't officially at war with anyone... are we? WTF is going on?

Please don't eagerly head for idiocy.

Nothing you said is true. "Adjustments" are not "Spending."

Adjustments refer to capital assets that might should have their values adjusted, be zeroed out due to being obselete or worn out, etc. Stuff left by the US Army in Iraq would be an example.

What they are saying is "we might have left it in Iraq, but the proper paperwork for each individual piece was not filed." Etc, etc.

Don't be a tool...

If they left $6 Trillion worth of tanks and planes behind in Iraq... they will want new ones, right?

Either way, that's bullshit... they did not leave $6Trillion worth of equipment behind.......

Adjustments to book value of assets IS NOT "SPENDING."

You do not appear to understand accounting.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: Balthazar on August 30, 2016, 10:53:38 AM

Explains why pentagon needs more money to counter Russian aggression.

If the Americans want to counter Russia militarily, then on average they need to spend around 100 times of what the Russians are spending on their defence budget. I will give you one simple example. Ever heard of the Lockheed Martin F-35 Lightning II? That single program is going to cost the Americans some $1.508 trillion (official figures, and I suspect that the real amount might be much higher). And at the same time, the Russians have developed the technologically superior Sukhoi PAK FA, at the cost of around $10 billion.

Masha Sha

sr. member

Activity: 560

Merit: 252

Personally everything that come out of this admin is to weaken America one way or the other... Show me the generals and co McMansions and we speak. Until then back under water...

Only 70 days until domestic chief is gone... OoorrraaYyyy

Moloch

hero member

Activity: 798

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Quote from: Spendulus on August 30, 2016, 11:46:07 AM

Quote from: Moloch on August 29, 2016, 01:23:32 PM

I'd like to point out that the military budget for 2015 was $600 Billion...

https://www.mintpressnews.com/audit-pentagon-cannot-account-6-5-trillion-dollars-taxpayer-money/219246/

Quote

“Army and Defense Finance and Accounting Service Indianapolis personnel did not adequately support $2.8 trillion in third quarter adjustments and $6.5 trillion in year-end adjustments made to Army General Fund data during FY 2015 financial statement compilation,” wrote Lorin T. Venable, the assistant inspector general for financial management and reporting. “We conducted this audit in accordance with generally accepted government auditing standards.”

The Army spent well over ten times their budget, and had no receipts for anything...

As far as I know, we aren't officially at war with anyone... are we? WTF is going on?

Please don't eagerly head for idiocy.

Nothing you said is true. "Adjustments" are not "Spending."

Adjustments refer to capital assets that might should have their values adjusted, be zeroed out due to being obselete or worn out, etc. Stuff left by the US Army in Iraq would be an example.

What they are saying is "we might have left it in Iraq, but the proper paperwork for each individual piece was not filed." Etc, etc.

Don't be a tool...

If they left $6 Trillion worth of tanks and planes behind in Iraq... they will want new ones, right?

Either way, that's bullshit... they did not leave $6Trillion worth of equipment behind...

If you actually read the news articles you would see their accounting is often off by a decimal place... instead of putting 10, they put 100, etc... If intent can be shown, that's fraud

I was in the military, I know exactly how it works... people do that all the time... if you need 20 of something, you have to ask for 50 or 100... if you ask for 20, you will only get 5

Am I assuming too much that Adjustments allow for more spending?

It's like claiming a loss on your taxes...

If they claim $6.5Trillion in losses, how much more do they get to spend? The whole $6.5T?

Spendulus

legendary

Activity: 2926

Merit: 1386

Quote from: Moloch on August 29, 2016, 01:23:32 PM

I'd like to point out that the military budget for 2015 was $600 Billion...

https://www.mintpressnews.com/audit-pentagon-cannot-account-6-5-trillion-dollars-taxpayer-money/219246/

Quote

“Army and Defense Finance and Accounting Service Indianapolis personnel did not adequately support $2.8 trillion in third quarter adjustments and $6.5 trillion in year-end adjustments made to Army General Fund data during FY 2015 financial statement compilation,” wrote Lorin T. Venable, the assistant inspector general for financial management and reporting. “We conducted this audit in accordance with generally accepted government auditing standards.”

The Army spent well over ten times their budget, and had no receipts for anything...

As far as I know, we aren't officially at war with anyone... are we? WTF is going on?

Please don't eagerly head for idiocy.

Nothing you said is true. "Adjustments" are not "Spending."

Adjustments refer to capital assets that might should have their values adjusted, be zeroed out due to being obselete or worn out, etc. Stuff left by the US Army in Iraq would be an example.

What they are saying is "we might have left it in Iraq, but the proper paperwork for each individual piece was not filed." Etc, etc.

Balthazar

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Explains why pentagon needs more money to counter Russian aggression.

Moloch

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Activity: 798

Merit: 722

Quote from: bitcoinisbest on August 30, 2016, 10:16:02 AM

how much truth in this story?

Feel free to google something like, "Pentagon Audit"

It has been reported by every news agency on the planet... I have no reason to believe it is not true

This is what happens when you give people control of Trillions of dollars and don't audit them for 100 years

The Federal Reserve is probably worse... they have never been audited either

bitcoinisbest

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Activity: 1218

Merit: 557

how much truth in this story?

Moloch

hero member

Activity: 798

Merit: 722

I'd like to point out that the military budget for 2015 was $600 Billion...

https://www.mintpressnews.com/audit-pentagon-cannot-account-6-5-trillion-dollars-taxpayer-money/219246/

Quote

“Army and Defense Finance and Accounting Service Indianapolis personnel did not adequately support $2.8 trillion in third quarter adjustments and $6.5 trillion in year-end adjustments made to Army General Fund data during FY 2015 financial statement compilation,” wrote Lorin T. Venable, the assistant inspector general for financial management and reporting. “We conducted this audit in accordance with generally accepted government auditing standards.”

The Army spent well over ten times their budget, and had no receipts for anything...

As far as I know, we aren't officially at war with anyone... are we? WTF is going on?

Topic: Pentagon audit reveals $6.5 Trillion in fraudulent accounting - page 2. (Read 1308 times)