Re:When 80 percent of US generals go to work for arms makers
by gruez on Saturday October 07, 2023 @10:42PM
(#37807447)
>The Pentagon cannot pass an audit of its budget to save its life, it's the status quo: https://www.thefiscaltimes.com/2019/11/20/Pentagon-Fails-Aud....
That's not what the link claims though.
>The fiscal 2019 audit examined more than $2.9 trillion in assets and $2.8 trillion in liabilities, the Pentagon said. The process involved about 1,400 auditors conducting 600 site visits, at a cost of nearly $1 billion.
Sounds like they can't keep track of all the stuff they supposedly own (ie. "assets"). That's slightly different than its yearly budget simply disappearing. Even if this year they tracked down where every cent went, they'd still fail the audit, because they can't account for the stuff they purchased years ago.
Re:When 80 percent of US generals go to work for arms makers
by femiagbabiaka on Saturday October 07, 2023 @11:38PM
(#37807681)
Granted. But it’s a difference without a distinction. The budget does disappear: into assets and liabilities that are poorly accounted for.
Re:When 80 percent of US generals go to work for arms makers
by naveen99 on Sunday October 08, 2023 @08:13AM
(#37809789)
It still shows up in inflation and interest rates. It’s the same with the national debt. The difference between 24 trillion and 25 trillion is basically just inflation and interest rates.
Re:When 80 percent of US generals go to work for arms makers
by KptMarchewa on Saturday October 07, 2023 @11:37PM
(#37807679)
The "military audit" is a red herring. No one wants secret programs to be auditable.
Re:When 80 percent of US generals go to work for arms makers
by femiagbabiaka on Sunday October 08, 2023 @12:04AM
(#37807790)
I think we have more options than an unaccountable Pentagon with a revolving door to the Acela corridor or leaking state secrets.
The Pentagon cannot pass an audit of its budget to save its life, it's the status quo: https://www.thefiscaltimes.com/2019/11/20/Pentagon-Fails-Aud....
The Pentagon makes tens of trillions of dollars of accounting adjustments each year because its internal financial controls are basically non existent.
If the Pentagon was a publicly traded company, Matt Levine would be writing about it as an exemplar of fraud every week and its shareholders would be suing.
You're underplaying the corruption by an order of magnitude at least.