Military Failure Rate is 100%
Taxpayers for Common Sense is the best organization that monitors excessive government spending. Here is their latest news update.
WHY CAN'T THE PENTAGON PASS AN AUDIT? The Pentagonís accounting records are so convoluted and corrupt that billions of dollars cannot be accounted for, charges a new government report.
In fact, no major part of the Department of Defense (DOD) has ever passed an audit, according to recent congressional testimony by the non-partisan U.S. General Accounting Office (GAO), the investigative arm of Congress.
The Pentagon admitted that flawed business systems and practices are common within the agency and said it would take "decades" to get all of the agency books in order.
Accounting problems led the GAO in 1995 to put DOD financial management on GAOís list of agencies that are at high-risk of waste, fraud, abuse, and mismanagement.
Some of the GAOís findings are astonishing:
The GAO testimony follows a March report by the office of the Defense Departmentís Inspector General that concluded that the Pentagonís books were in such disarray that they couldnít be audited.
In fact, the Pentagonís books are in such poor shape that the militaryís money managers last year made almost $7 trillion in adjustments to their financial ledgers in an attempt in make them add up.
The Inspector General also concluded the Pentagon could not show receipts for $2.3 trillion of those changes and half a trillion dollars of the adjustments were corrections of earlier mistakes.
The Pentagon is not alone: Only 11 of 24 big federal agencies could produce reliable financial statements for last fiscal year.
Individual taxpayers must be prepared to pass an audit. There are no exceptions. Failure can lead to fines or even prison. It is high time Congress demanded the same level of accountability from the Pentagon and other high-risk agencies.
For more information, contact Keith Ashdown at (202) 546-8500 x110 or e-mail email@example.com ; TCS is at www.taxpayer.net
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