Home / Economy / Since 9/11, The US Govt Has “Lost” $58,000 —EVERY SINGLE SECOND

Since 9/11, The US Govt Has “Lost” $58,000 —EVERY SINGLE SECOND

By Rachel Blevins

When U.S. Defense Secretary Donald Rumsfeld suggested that the Pentagon was missing $2.3 trillion on Sept. 10, 2001, it seemed like a large amount—little did the American people know that the events that would start the next day would clean the blank income from the headlines, and over the next 16 years, the volume of income the supervision is blank would boost at a rate in additional of $58,000 per second.

While $2.3 trillion may seem like a lot, another supervision group certified to losing triple the volume in 2009, when former Inspector General Elizabeth Coleman admitted that the Federal Reserve could not criticism for $9 trillion.

“I have a duplicate of the Inspector General Act here in front of me. It says, among other things, that it’s your shortcoming to control and manipulate audits and investigations associated to the programs and operations of your agency,” Former Rep. Alan Grayson pronounced during a special hearing.

“That’s correct,” Coleman replied.

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“So I’m asking you, if your group has, in fact according to Bloomberg, extended 9 trillion dollars in credit—which, by the way, works out to $30,000 for every singular man, lady and child in this country—I’d like to know, if you’re not obliged for doubt that, then who is?” Grayson inquired.

“We have shortcoming for the Federal Reserve’s programs and operations—to control audits and investigations in that area,” Coleman replied. She went on to explain that she could not criticism about specific sum while the Federal Reserve was in the center of a review.

Even when Rep. Grayson privately asked, “Are you revelation me that nobody at the Federal Reserve is gripping lane on a unchanging basement of the waste that start on what is now a 2-trillion-dollar portfolio?” IG Coleman refused to give him a true answer.

The Pentagon has only continued to remove income by the trillions given 9/11, and a new report examining the budgets of the Department of Defense (DoD) and the Department of Housing and Urban Development (HUD) shows that the sum is now more than $21 trillion.

The report attributes the blank supports to a series of “unsupported biography document adjustments” made to the departments’ budgets. These adjustments are not tied to specific accounting transactions, but they are mostly enclosed in criticism summaries to cover for balances between systems that can't be reconciled.

As The Free Thought Project has reported, not only is it likely that the tangible volume of income the DoD and HUD can't criticism for is much aloft than $21 trillion, due to the fact that researchers did not have entrance to finish data, but the use of formulating tawdry adjustments appears to be customary procedure.

Perhaps even some-more discouraging than the sum volume lost is the fact that fake function from HUD and DOD seem to be the customary handling procedure. In fact, the accounting for these supports is so poor, that as Reuters notes, the Defense Finance and Accounting Services (DFAS) refers to the credentials of the Army’s year-end statements as ‘the grand plug’ — ‘plug’ is accounting lingo for the insertion of made-up numbers.

For every transaction, a ostensible ‘journal voucher’ that provides sequence numbers, transaction dates and the volume of the output is ostensible to be produced. The report specifies that the group has finished such a bad pursuit in providing support of their transactions, that there is no way to actually know how $21 trillion has been spent.

When mixing the $21 trillion lost by the DoD and HUD with the $9 trillion lost by the Federal Reserve, the grand sum stands at more than $30,000,000,000,000 lost by the U.S. supervision given 9/11. 

When augmenting 60 seconds per minute, by 60 mins per hour, by 24 hours per day, by the 5,947 days that have elapsed given Sept. 11, 2001, the outcome is approximately 513,820,800 seconds.

If the U.S. supervision has lost $30,000,000,000,000 in the 513,820,800 seconds given 9/11, then it has lost a sum of $58,386 per second.

For the first time in its history, the Pentagon has announced that the Department of Defense is set to bear a financial audit. However, as Audit the Pentagon Director Rafael DeGennaro remarkable progressing this year, the Pentagon has been earnest to finish an review for several years.

“Over the last 20 years, the Pentagon has broken every guarantee to Congress about when an review would be completed,” DeGennaro told the Guardian. “Meanwhile, Congress has some-more than doubled the Pentagon’s budget.”

Rachel Blevins is a Texas-based publisher who aspires to mangle the left/right model in media and politics by posterior law and doubt existent narratives. Follow Rachel on Facebook, Twitter and YouTube. This essay first seemed at The Free Thought Project.



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