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We cannot track $2.3 trillion in transactions.
The technology revolution has transformed organizations across the private sector, but not ours, not fully, not yet. We are, as they say, tangled in our anchor chain. Our financial systems are decades old. According to some estimates, we cannot track $2.3 trillion in transactions. We cannot share information from floor to floor in this building because it's stored on dozens of technological systems that are inaccessible or incompatible.
We maintain 20 to 25 percent more base infrastructure than we need to support our forces, at an annual waste to taxpayers of some $3 billion to $4 billion. Fully half of our resources go to infrastructure and overhead, and in addition to draining resources from warfighting, these costly and outdated systems, procedures and programs stifle innovation as well. A new idea must often survive the gauntlet of some 17 levels of bureaucracy to make it from a line officer's to my desk
Pentagon's finances in disarray
By JOHN M. DONNELLY The Associated Press 03/03/00 5:44 PM Eastern
WASHINGTON (AP) -- The military's money managers last year made almost $7 trillion in adjustments to their financial ledgers in an attempt to make them add up, the Pentagon's inspector general said in a report released Friday.
The Pentagon could not show receipts for $2.3 trillion of those changes, and half a trillion dollars of it was just corrections of mistakes made in earlier adjustments.
There's still huge accounting problems in the Pentagon. They don't even know how much money they have or are spending. The inspector general of the Pentagon said there are 2.3 trillion dollars in items that they can't quite account for.
Senator Byrd: That audit report found that out of $7.6 trillion in department-level accounting interest, 2.3 trillion in entries either did not contain adequate documentation or were improperly reconciled or were made to force buyer and seller data to agree
You sound very young and naive to me, with hardly any world experience. Do yourself a favor and go outside once in a while. Get a few scrapes and bruises, and stop thinking you can read about the world. And no, it's not an ad homenim attack. It's an addressing of a fundamental flaw of your world view, lack of experience, low emotional intelligence, and a need to rebel, so like you told me, don't be afraid of the truth.
Originally posted by Swampfox46_1999
Whew, and I thought I was condescending.....shall we see who can pee the farthest next?
[edit on 7-9-2009 by Swampfox46_1999]
Originally posted by Swampfox46_1999
So, the issue was even addressed in Rumsfeld's nomination hearing. In other words..
1. It wasnt a secret
2. It wasnt 2.3 trillon in cash
3. It wasnt a crime
4. It was a symbol of the problem that the Pentagon has had for over forty years and one that Rumsfeld was determined to try to fix.
Now, can we lay the 2.3 trillion story in regards to 9/11 to rest????
If this 'explanation' was any where near truth, it would prove beyond any doubt that the pentagon and civilian government were incompetent and incapable of running this circus
Tell you what -- we'll talk about 'believing' the government's version of events when you can explain the 360 tons of cash flown to Iraq and promptly "lost".
Originally posted by draildatrain
I cant believe that so many people that I have met have never heard about (or remembered) all that money that vanished the day before the 11th!
Originally posted by Swampfox46_1999
reply to post by Indigenous equity
Not wanting to veer off topic too much....the hammer I looked up, it wasnt the materials that made it so expensive, if I remember right the packing was listed at 40 dollars on the breakdown.....