I have been very vocal on my opposition to the waste of American taxpayer cash…..there is waste at every level of our government but the most wasteful is the Pentagon who seems to get more cash than they ask for in their budget requests.
And yet they cannot keep up with their waste…..and yet they failed yet another audit of their books.
Department of Defense revealed that it had failed its fifth consecutive audit.
“I would not say that we flunked,” said DoD Comptroller Mike McCord, although his office did note that the Pentagon only managed to account for 39 percent of its $3.5 trillion in assets. “The process is important for us to do, and it is making us get better. It is not making us get better as fast as we want.”
The news came as no surprise to Pentagon watchers. After all, the U.S. military has the distinction of being the only U.S. government agency to have never passed a comprehensive audit.
But what did raise some eyebrows was the fact that DoD made almost no progress in this year’s bookkeeping: Of the 27 areas investigated, only seven earned a clean bill of financial health, which McCord described as “basically the same picture as last year.”
Given this accounting disaster, it should come as no surprise that the Pentagon has a habit of bad financial math. This is especially true when it comes to estimating the cost of weapons programs.
The Pentagon’s most famous recent boondoggle is the F-35 program, which has gone over its original budget by $165 billion to date. But examples of overruns abound: As Sens. Jim Inhofe (R-Okla.) and Jack Reed (D-RI) wrote in 2020, the lead vessel for every one of the Navy’s last eight combatant ships came in at least 10 percent over budget, leading to more than $8 billion in additional costs.
And another major overrun is poised to happen soon, according to a recent report from the Congressional Budget Office.
The Navy plans to expand its ship production in an effort to maintain an edge over China, with a particular focus on a new attack submarine and destroyer ship. The Pentagon has proposed three versions of this plan at an average cost of $27 billion per year between 2023 and 2052, a 10 percent jump from current annual shipbuilding costs.
But the CBO says this is a big underestimate. The independent agency’s math says the average annual cost of this shipbuilding initiative will be over $31 billion, meaning that the Navy is underestimating costs by $120 billion over the program’s life.
The Pentagon fails its fifth audit in a row
The DoD keeps flushing cash down the toilet and no one cares or even knows where this cash goes.
When will the American people start caring where their money goes….maybe they should focus on the Pentagon and less time worrying about meals for seniors or hungry kids.
Just a thought.
I Read, I Write, You Know
“lego ergo scribo”
7 thoughts on “Yet Another Failure”
There should never be a limit on what the Pentagon and the defense industry spends to defend our nation in these times when our enemies are building up their military capabilities and will surpass us if we are not damned careful. You can’t put a price on American lives. We need all the defense capability we can muster. If you want to do something about the expense, then let us withdraw our military capabilities and resources from some of the crap holes areound the world where they are stationed but doing absolutely no good at all.
Defense is one thing instigating war is another…..more cash is thrown at war than on its prevention. chuq
Correct. We should NOT be in the instigating business.
Like I will write….we should change the Dept of Defense back to War Department for that is what we do best. chuq
I agree with that
Sounds as if a LOT of money is being skimmed. They should start to investigate the monetary connections of Defence employees and the arms manufacturers.
Best wishes, Pete.
That connection is well known…..it is the voter that has not considered that as the problem….could explain their ignorance a bit. chuq