You can send support to: Kyle Hunt, PO Box 1052, Sorrento FL 32776. Source:https://www.zerohedge.com/economics/just-little-sloppy-record-keeping-pentagons-35-trillion-accounting-black-hole, Your email address will not be published. Here were talking $30+ trillion and it appears this gaping accounting black hole bigger that most of the worlds past and future economies will itself be memory holed and explained away as being but the minor errors of some DoDpencil-pushers, apparently. However, $35 trillion is close to 50-times the size of the Pentagon's 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. What if the practice of rehypothecation is not confined to the world of banking, but has in fact become amodus operandiof government agencies themselves, in this case, of the Department of Defense? That does not mean that the Defense Department spent, lost, or could not account for $35 trillion, said Bryan Clark, a senior fellow with the Center for Strategic and Budgetary Assessments think tank in Washington, D.C. It means money that DoD moved from one part of the budget to another, Clark explained to Task & Purpose. Inanother report, they tried to simulate how to bring that building down in the manner it did and the only way was to cut the columns on the first 8 floors. Bloomberg attempted to get a handle on it further in explaining, The military services make adjustments, some automatic and some manual, on a monthly and quarterly basis, and those actions are consolidated by the Pentagons primary finance and accounting service and submitted to the Treasury.. PO Box 1052 Design a site like this with WordPress.com, Hackers Can Turn Everyday Speakers Into Acoustic Cyberweapons, Police Officers/ Gang Stalkers and Mentally Illness, William Barr trying time renew criminal Watch List, Six Paths to the Nonsurgical Future of Brain-Machine Interfaces, Forbes Article: HLS keyword search of social media sites, Elon Musks neurotechnology company, Neuralink. That $2.3 trillion in 2001 has grown now to $35 trillion. The 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. Learn how your comment data is processed. The size and scope of unsupported adjustments is deeply concerning because it tells a story of poor internal controls and lack of financial data integrity.. Both thus seem about equally to blame for the rise in the deficit., Fox also says that its not entirely clear that the deficits are cause for concern at the moment. Penn Wharton reportedly plans to follow up with additional analysis considering the effects of the tax plans if the revenue raised were used to fund investments that boost productivity. The Pentagon made $35 trillion in accounting adjustments last year alone a total thats larger than the entire U.S. economy and underscores the Defense Departments Page 9. Sign up for our free newsletter. The Defense Department acknowledged that it failed its first-ever audit in 2018 and then again last year, when it reviewed$2.7 trillionin assets and$2.6 trillionin liabilities. Ken Hammond, U.S. Air Force via Wikimedia Commons. Send your tips and feedback to yrosenberg@thefiscaltimes.com. On one hand, reducing federal deficits increases investment, leading to greater capital accumulation and, therefore, increasing GDP. Covid and The Ohio Train PSYOPS Exposed by Richard Gage! Write CSS OR LESS and hit save. Sorrento, FL 32776, GAB PAY: This missing money was reported four times for 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. Its widely acknowledged that aluminum can enter the brain and disrupt its functions. Rep. Jackie Speier (D-CA), who asked the Government Accountability Office to look into the issue, said the combined errors, shorthand, and sloppy record-keeping by DoD accountants do add up to a number nearly 1.5 times the size of the U.S. economy, and charged that the Pentagon employs accounting adjustments like a contractor paints over mold. Money is double or triple-counted as it moves between accounts. They were not traders willing to risk anything on real analysis. All rights reserved. I had given the tapes to my lawyers to protect. How about the 9400 unknown outcomes! What we were finding is the Department of Defense has such lack of confidence or unreliability in their own records that they on a routine basis . Within that$30 trillionis a lot of double, triple, and quadruple counting of the same money as it got moved between accounts, Todd Harrison, a Pentagon budget expert with the Center for Strategic and International Studies, told Bloomberg in a recent report. TexanCiviliansCriminallyAssaultedbyState,FederalandCorporateagencies, https://www.bloomberg.com/news/articles/2020-01-22/pentagon-racks-up-35-trillion-in-accounting-changes-in-one-year?utm_content=business&utm_source=facebook&utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-facebook-business. | Worse still, it seems to have endorsed a continual problem of missing money from the Pentagon. Mnuchin Said Thunberg Needed to Study Economics Before Offering Climate Proposals. Get the latest in military news, entertainment and gear in your inbox daily. According to Japans health ministry, the total number of births declined to 799,728 in 2022, which is down 5.1% from a year earlier. Your car is broken into and the thief takes your computer and your reporters notebook and leaves everything else behind. Tony Capaccio, Bloomberg News. It also means that the Defense Department really sucks at accounting, according to a recent Government Accountability Office report. 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 defense spending. Well, I suspect todays article, shared by G.P., may have something to do with yesterdays story. The Defense Department acknowledged that it failed its first-ever audit in 2018 and then again last year, when it reviewed$2.7 trillionin assets and$2.6 trillionin liabilities. 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.. ( Note carefully the date of this , Nikola Tesla gave the first public demonstration of radio in St. Louis on March 1, 1893, although he had presented his work prior to this behind closed doors. 0x3c909c5617D7BEF7B12FB4054F6D4dBcf22602e7. The report shows the Pentagon employs accounting adjustments like a contractor paints over mold. Save my name, email, and site URL in my browser for next time I post a comment. Here is one tape I had a copy of that was at my mothers house which survived. 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. He also calls for higher estate taxes and the introduction of a financial transactions tax. 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. But not so fast. NO data about the Use in Pregnancy and lactation, in Paediatric Individuals <12 Years of Age and .VACCINE EFFECTIVENESS! 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, according to Pentagon figures and a lawmaker whos pursued the accounting morass. The U.S. Department of Defense announced $35 trillion in accounting changes in 2019 a figure up from $30.7 trillion in 2018 and $29 trillion in 2017. Defense Department spokesman Christopher Sherwood referred questions about the Pentagon's accounting system to the GAO report, in which the Pentagon's deputy chief financial officer vowed to fix the issues raised. Deadly Viruses Aren't Pharma's Top Priority. The judge, Richard Owen (Prosecutor was Richard D. Owens), ordered all the tapes to be turned over to the government on their theory it might lead to where I had stashed the missing $1 billion which was stolen by the banks. According to the DoD, theresnothing to see here. Of course, the courts are anything but real. The Penn Wharton Budget Models earlier analysis of Sen. Elizabeth Warrens wealth tax found that it would raise as much as $2.7 trillion in revenue over 10 years well shy of the $3.8 trillion Warrens camp estimated. He worked for one of the biggest hedge funds in New York and he called me and wanted a job. Theres something that caught my eye and I hope that caught yours, and its this little detail: Within that$30 trillionis a lot of double, triple, and quadruple counting of the same money as it got moved between accounts, said Todd Harrison, a Pentagon budget expert with the Center for Strategic and International Studies. Naturally, the first and only question we should start with is:how is this even possible? pretty much delete everything that had been recorded on their side and just re-record all the balances that Treasury has, Kociolek said. CTRL + SPACE for auto-complete. Subsequently, the Department will update the Department of Defense Financial Management Regulation and document strategies with specific outcomes and detailed procedures for achieving stated goals in the strategies.. 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. There was no source of fuel and the photos of the collapse fail to show a raging fire. However, $35 trillion is close to 50-times the size of the Pentagons 2019 budget, so that Remember to thank those in the military for their service. 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? The governments claim was itcollapsed from fire. 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. WASHINGTON, D.C. U.S. Sens. This revolution is a lot more than just a change in attitude. Bidens plan would have little impact on GDP, Penn Wharton finds. 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. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Each budget category is so broadly defined that the Pentagon could use money slated for research and development to fund manpower costs if it wanted to. Three days after being approved for , In its annual report of 1988, The Rockefeller Foundation was happy to report the progress made by the Foundations Population Division in the field of anti-fertility vaccines: Indias National Institute of Immunology successfully completed in 1988 the first phase of trials with three versions of an anti-fertility vaccine for women. The Pentagon Announces $35 Trillion Accounting Black Hole for 2019 Missing Funds HISTORY HEIST Skip to content Search Search for:Search Home News You can email him at schogol@taskandpurpose.com, direct message @JeffSchogol on Twitter, or reach him on WhatsApp and Signal at 703-909-6488. Over the past two weeks of coronavirus headlines and heightened global anxiety, along with impeachment coverage and after over the Super Bowl weekendAmericans huddled in living rooms in blissful oblivion, a story which in more normal times would be front and center has gone largely unnoticed. Web584 votes, 77 comments. RIP, Jim Lehrer. Pentagon Racks Up $35 Trillion in Accounting Changes in One YearBy Anthony Capaccio , 1/22/2020, 3:00:00 AMThe Pentagon made $35 trillion in 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. WebThe Pentagon moved a total of $35 trillion among its various budget accounts in 2019, Tony Capaccio of Bloomberg first reported. The banks pay huge fines at shareholder expense to protect the bankers personally and nobody ever goes to jail. 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. Or are you an unpatriotic commie pig who doesnt appreciate their struggle?! So what are these accounting adjustments? So when they move money from one program to another in order to pay for an unexpected expense it sets off a domino effect of budget corrections. Yet, theres a detail in this article that caught my eye, and that fuels todays high octane speculation. Instead, the story, which broke on November 17, was largely ignored or buried. His campaign says the proposals would raise $3.2 trillion over 10 years to fund investments in health care, climate, infrastructure and education. Pentagon loses 50 cents of every dollar allocated by congress. That $2.3 trillion in 2001 has grown now to $35 trillion. SGT Report is your daily source for truth in a time of universal deceit. Christian, Patriot, Entrepreneur. Your email address will not be published. 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. Founder of Architects for 911 Truth. SGT Report is your daily source for truth in a time of universal deceit. Proof MSM Is The Enemy Of The People CNNs Dumbest Man On Television, Don Lemon, Joins NeverTrumper In Mocking Half Of Americans As Stupid Hicks, Virus Update: Med Journal Lancet Shows Initial Death Rate Over 11% & Contagion up to 83% (1of2), 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. And as we noted then, critics of the Penn Wharton model question some of its assumptions about how higher taxes affect the economy. according to a recent Government Accountability Office report. We project that these two effects are largely offsetting over time.. Carpaccio notes that the number dwarfs the $738 billion of defense-related funding in the latest U.S. budget, a spending plan that includes the most expensive weapons systems in the world including the F-35 jet as well as new aircraft carriers, destroyers and submarines. Its also larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books.. Is the United States on The Same Calamitous Path as Yugoslavia? 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.. 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. 2009-2023 The Fiscal Times. 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. Registration on or use of this site constitutes acceptance of our Terms of Service. MAKE CHECKS OUT TO: And it means that you're probably spending a lot of time moving money around instead of actually getting the work done, Clark said. The Sanders plan: Sanders has proposed a 1% tax on net worth above $32 million for a married couple, with the tax rising until it reaches 8% on wealth over $10 billion. All constitutional changes required the unanimous approval of the 13 member States. Within that $30 trillion is a lot of double, triple, and quadruple counting of the same money as it got moved between accounts, said Todd Harrison, a Pentagon budget expert with the Center for Strategic and International Studies. A contractor paints over mold Thunberg Needed to Study Economics Before Offering Climate Proposals and only question should! Of course, the courts are anything but real Kyle Hunt, PO Box 1052, Sorrento FL 32776 lawyers... All expenditures collapse fail $35 trillion missing from pentagon show a raging fire Years of Age and EFFECTIVENESS... 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