The Pentagon has misplaced $220 billion worth of government gear provided to military contractors, according to a new report from the Government Accountability Office. Where did it go?
This “gear” includes “ammunition, missiles, torpedoes” and components for those things. The report concedes that the $220 billion estimate is based on a 2014 report so the actual amount is probably much higher.
Reason.com points out that in “2001, the Pentagon said it would address the issue by 2005. In 2020, it said the process would be complete by 2026.” Should we hold our breath for that?
In November, the Pentagon failed its fifth consecutive audit when it could only account for 39% of its $3.5 trillion in assets. So how do we feel about that $858 billion budget that was passed last December given this information?