Americans are always concerned when they hear the word ‘billion’ in relation to government spending. And they should be, considering that all that money comes from their hard-earned tax dollars.
So, when the Pentagon announced that it was going to do something that has never been done before, and it would take $1 billion to do it, of course Americans are going to show real concern.
Especially when it’s something that has been required of the Department of Defense by federal law since the 1990s, but has never been completed.
Leave it to President Trump to finally get the Pentagon to fall in line. The DoD has agreed to go through a full financial audit for the first time ever.
And just to be clear, the DoD has been around since 1949, but came as an outgrowth of the National Security Act of 1947. So, that’s 70 years of no financial accountability folks.
“The most shocking thing about being in Congress that there has never been a comprehensive audit of the DoD,” said Rep. Salud Carbajal, D-Calif., who is a freshman member of the committee.“I think if we don’t get it together, we are going to lose the American people’s trust in what we are trying to do here.”
House lawmakers on Wednesday applauded the Pentagon’s effort to finally undergo a full audit, even though Defense Department Comptroller David Norquist said the effort could lead to almost $1 billion in costs this year.
Of course, the audit itself doesn’t cost $1 billion, but the audit and the money it will take to fix all the problems discovered by the audit will.
Those costs include $367 million on the actual audit process that was announced and launched by Norquist last month. He also said the military expects to pay $551 million to fix the problems uncovered by the audit.
Norquist, the brother of tenacious tax activist Grover Norquist, was appointed by President Trump in May and vowed a get-tough approach to finally putting the military’s financial books in order after years of delays.
The Pentagon has about $2.4 trillion in assets but has never gone through a full financial audit.
That’s crazy. The Pentagon has $2.4 trillion in assets, that’s trillion with a ‘t’, and they have never gone through a full financial audit.
I would agree that Rep. Salud Carbajal is correct to say that the government could completely lose Americans trust over this. Everyone has to be wondering just how much waste the DoD has been getting away with for seven decades.
Thank goodness President Trump is in office to set things straight, and to earn back the trust of the people.
Source: Washington Examiner