There isnt 35 trillion missing. Focusing on fiscal year 2019, $35 trillion in accounting adjustments is 47 times the $738 billion in authorized DOD funding in that year, and 1.6 times U.S. GDP of $21.4 trillion. (LogOut/ There has been a big course shift among macroeconomists in recent years over the risks and rewards of fiscal stimulus, he writes. Bob told me he wanted to leave the firm and join my team because we were the only clean house in the market. Learn how your comment data is processed. Of course, in the real world outside the halls of government and of largely unchecked power, a mere single trillion would be enough send people to jail. His campaign says the proposals would raise $3.2 trillion over 10 years to fund investments in health care, climate, infrastructure and education. There were conversations as part of your standard recorded lines when trading so there are no questions about giving orders. The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a concerted way, Why it matters: More broadly, the number highlights the persistent lack of internal financial controls at the Pentagon, which makes it extremely difficult to account properly for spending in the largest government budget. This really amounts to shareholder fraud in that they pay huge fines and those who make huge bonuses from the fraud keep their illegal gains. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); WE ARE THE NEWS NOW! The combined errors, shorthand, and sloppy record-keeping by DoD accountants do addup toa number nearly 1.5 times the size of the U.S. economy, said Speier, a California Democrat. I also hired Barclay Lieb who did his due diligence on me before joining my firm. WebIn this story, we'll be finding out how the Pentagon somehow lost 35 trillion dollars, do you really believe them? The authors of the study are associated with The Birchall Centre, Lennard-Jones Laboratories, Keele University, Staffordshire, UK; Life Sciences, Keele University; and the Department of Clinical Neuropathology, Kings College Hospital, London, UK. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. They wanted guaranteed trades. Adjustments underscore weakness in Defense Department systems. The latest estimate is up from$30.7 trillionin 2018 and$29 trillionin 2017, the first year adjustments were tracked in a concerted way, according to Pentagon figures and a lawmaker whos pursued the accounting morass. There were 546,433 adjustments in fiscal 2017 and 562,568 in 2018, according to figures provided by Representative Jackie Speier, who asked the Government Accountability Office to investigate, the report added. Would love your thoughts, please comment. Clearly, the Spokeswoman for the Pentagons inspector general,Dwrena Allen, downplayed what to most Americans will sound like the makings of an explosive scandal. So what are these accounting adjustments? Your phone starts acting funny. The collapse of WTC #7 was clearly a demolition to hide evidence. 2009-2023 The Fiscal Times. So, like in your household budget: It would be like moving money from checking, to savings, to your 401K, to your credit card, and then back.. CEO of Blackrock Warns A Spike In Inflation May Come As A Pretty Big Shock Its Not Transitory, Discover the untold story about the War in Ukraine in this eye-opening documentary, The US wants to Impose a New Economic Paradigm on the World. (ZH) Over the past two weeks of coronavirus headlines and heightened global anxiety, along with impeachment coverage and after over the Super Bowl weekend Americans huddled in living rooms in blissful oblivion, a story which in more normal times would be front and center has gone largely unnoticed. In the banking world, where the same pile of assets are assigned to several different accounts all at the same time, its not only fraudulent, but there is actually a word for it: re-hypothecation. Worse still, it seems to have endorsed a continual problem of missing money from the Pentagon. According to Bloombergs Anthony Carpaccio, the Department of Defense made $35 trillion in accounting adjustments in 2019, easily surpassing the $30.7 trillion in such adjustments recorded in 2018. The findings? Bidens plan would have little impact on GDP, Penn Wharton finds. The motto seems to be we do not kill your own, only civilians. While it shouldnt come as a surprise for an organization that has famously failed to ever pass an audit, the Pentagon was nevertheless able to shock some observers this week with a new batch of financial numbers. There were 546,433 adjustments in fiscal 2017 and 562,568 in 2018, according to figures provided by Representative Jackie Speier, who asked the Government Accountability Office to investigate. The Pentagon moved a total of $35 trillion among its various budget accounts in 2019, Tony Capaccio of Bloomberg first reported. While auditors found no evidence of fraud in the review of finances that Congress required, they flagged a laundry list of problems, including accounting adjustments. The next day, the WTC was attacked as well as the pentagon itself. Pentagon loses 50 cents of every dollar allocated by congress. The latest estimate is up from$30.7 trillionin 2018 and$29 trillionin 2017, the first year adjustments were tracked in a concerted way, according to Pentagon figures and a lawmaker whos pursued the accounting morass. To be sure, the Pentagon couldnt be happier that this bombshell has taken aback burner in global headlines: The Pentagon made$35 trillionin accounting adjustments last year alonea total thats larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books. One of the few in Congress who have taken an interest in the missing $94.7 trillion is With Clinton Brand Discredited, Its High Time to Reopen Investigation into Death of Vince Foster The Most RevolutionaryAct, Pentagon Fails Audit (yet Again!) Yesterday I blogged about the new logo for the USAs new Space Force, a logo that to my and many other peoples eyes looks all-too-suspiciously like the Starfleet logo from Star Trek. With tax season now fast approaching, its not too comforting to know the Pentagon enjoys over half of all discretionary domestic spending forits global war machine in maintenance ofour humble RepublicEmpire. Will Democrats Let Him? But because the DoD could not provide support, the auditors could not draw conclusions regarding the adjustments., Published on January 22, 2020, 3:00 AM CST. SGT Report is the corporate propaganda antidote. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. AMAZING INTEL BEING RELEASED NOW! The story concerns yet more trillions of dollars, in this case, $35,000,000,000,000 worth of accounting errors: Pentagon Racks Up $35 Trillion in Accounting Changes in One Year. They were evacuated. (LogOut/ That $2.3 trillion in 2001 has grown now to $35 trillion. Congress doesn't allow them to have money for emergencies. Of course, the courts are anything but real. It seems that once again the Pentagram has mislaid a few trillions and has had to make accounting adjustments: The Pentagon made$35 trillionin accounting adjustments last year alone a total thats larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books. according to a recent Government Accountability Office report. Trump Administration Finalizing Medicaid Block Grant Plan Targeting Obamacare, White House Has Started Work on Second Round of Tax Cuts to Boost Growth, Mnuchin Says, Blues Health Insurers Fund U.S. The GAO estimated based on a sample that at least 96% of 181,947 automatic adjustments made in the fourth quarter of fiscal 2018 didnt have adequate supporting documentation., In laymans terms, this means that the DoD made adjustments to accounting records without having documentation to support the need or amount for the adjustment, said Dwrena Allen, spokeswoman for the Pentagons inspector general. in assets and a record current 2021 budget of $738 billion, has for the third year in a row failed its audit. Tesla first demonstrated wireless transmissions during a lecture in 1891. You must understand that the Club was all about rigging the game so they always win. That means studies of proposals to raise corporate taxes do show some higher taxesunder $200 for many households in Mr. Bidens casefor the middle class.. In other words, were already far afield of former Defense Secretary Donald Rumsfelds September 10, 2001 admission that the Pentagram had about $2 trillion it couldnt account for. The spending adjustments follow the Pentagons first failed audit in 2018 and another failed audit in 2018, according to Bloomberg. Whats most important to an auditor is whether the adjustments are properly supported because properly supported adjustments ensure financial statement values are accurate. It sounds more appropriately news out ofThe OnionorBabylon Beegiven this is *Trillions* and not just billionsthough that itself would have been remarkable enough. But tragedy struck on the windy evening of March 1, , The study and description of this part of the collection was assigned by Professor [Henry Fairfield] Osborn to the writers, and its results appear in the following pages The anterior molars and premolars of this genus of peccaries show a startling resemblance to the teeth of Anthropoidea, and might well be mistaken for them by anyone not familiar with the dentition of Miocene peccaries. W. D. Matthew and Harold Cook, Bulletin of the American Museum of Natural History, 1909 p.361, 390. But are we really to believe that mere combined errors, shorthand, and sloppy record-keeping by DoD accountantsas another analyst was quoted as sayingcan explain a$35 Trillion accounting black hole? All constitutional changes required the unanimous approval of the 13 member States. Its the accounting system , it made $35 Trillion in corrections to a budget of less than 1 trillion. Forbes: The U.S. Air Force Just Admitted The F-35 Stealth Fighter Has Failed Salon: Even by Pentagon terms, this was a dud: The disastrous saga of the F-35 Esquire: This Country Is Spending $1.7 Trillion on Planes That Dont Work For that money, we could have cancelled American student loan debt. You can send support to: Kyle Hunt, PO Box 1052, Sorrento FL 32776. All rights reserved. Around three weeks ago on February 9 during the Blog Bash event in Washington DC, Breitbart made a prophetic comment that takes on a somewhat chilling nature given the fact that he died in the early hours of March 1st. According to Bloombergs Anthony Carpaccio, the Department of Defense made $35 trillion in accounting adjustments in 2019, easily surpassing the $30.7 trillion in such adjustments recorded in 2018. The Pentagon's accounting systems are so old and out of date that defense officials don't even put up a fight when the Treasury Department says they've made errors, explained Kristen Kociolek, who led the GAO's review of the issue. Its widely acknowledged that aluminum can enter the brain and disrupt its functions. Bitcoin address: 1AfppjYZddJzc2C15PXKMsnyBPjPJQezwA. Atrazine, one of the worlds most , Borjesson succinctly explains the journalists predicament: The buzzsaw is what can rip through you when you try to investigate or expose anything this countrys large institutions be they corporate or government want kept under wraps. PO Box 1052 However, $35 trillion is close to 50-times the size of the Pentagons 2019 budget, so that means every dollar the Defense Department received from Congress was moved up to 50 times before it was actually spent, Clark said. Its not a pile of cash, and its not all expenditures. Because we don't. 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