The US government routinely can not account for TRILLIONS of dollars. No one in charge of our tax dollars seems to be able to figure out how much money is being spent, what the money is being spent on, or who has been receiving the payments.
On September 10th, 2001, the day before 9/11, Secretary of Defense Donald Rumsfeld reported that the Pentagon could not account for $2.3 trillion dollars, about 25% of what it annually spends. At the time this amounted to a cost of “$8,000 for every man, woman, and child in America”.
This problem has only grown worse over the years. In 2017, Michigan State University scholars found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015.
Given that the entire Army budget in fiscal year 2015 was $120 billion, unsupported adjustments were 54 times the level of spending authorized by Congress.
This $21 Trillion in wrongful “adjustments” is more than all the money in the entire US economy.
In 2015, the Defense Department’s Inspector General report listed $2.8 trillion in wrongful adjustments in just one quarter alone and a total of $6.5 trillion for the year.
It is not just the Department of Defense but also other agencies like the Federal Reserve which can’t account for trillions of dollars.
Congressional Hearings – FED
Podcasts on Missing Trillions
Dr. Mark Skidmore Interviews
- $21 trillion of unauthorized spending by US govt discovered by economics professor — RT USA News
- $21 trillion lost- Largest theft in history buried under guise of US national security – Lee Camp — RT USA News
- Accounting Problems Still Plague U.S. Government GAO – The Fiscal Times
- America’s Missing Money: The federal government can’t account for $21 trillion—but does anybody care? – City Journal
- Audit reveals Army’s trillion-dollar accounting gaffes – CNN
- Exclusive- The Pentagon’s Massive Accounting Fraud Exposed – The Nation
- Government can’t explain $3B in ObamaCare payments – TheHill
- Has Our Government Spent $21 Trillion Of Our Money Without Telling Us? – Forbes
- How the Pentagon Cooks the Books to Hide Massive Waste – The Fiscal Times
- Holding U.S. Treasurys? Beware: Uncle Sam Can’t Account For $21 Trillion – Forbes
- Is Our Government Intentionally Hiding $21 Trillion In Spending? – Forbes
- MSU scholars find $21 trillion in unauthorized government spending – FOX 47
- ~State Department inspector general issues alert over $6 billion in contracting money – Washington Post
- The War On Waste – CBS News
- UNACCOUNTABLE: The high cost of the Pentagon’s bad bookkeeping. How the Pentagon’s payroll quagmire traps America’s soldiers – Reuters Investigates
- U.S. Army fudged its accounts by trillions of dollars, auditor finds – Reuters
- U.S. Defense Department can’t account for billions for Iraq, audit finds – CNN
- US Military Spending TRILLIONS of Dollars Unaccounted For – Off Guardian
- Want to Cut Government Waste? Find the $8.5 Trillion the Pentagon Can’t Account For – Yahoo
- With $8.5 Trillion Unaccounted for, Why Should Congress Increase the Defense Budget – The Fiscal Times