On the other hand, the increase in marginal tax rates discourage labor and savings. Discussion about Republics restoration and other musings. 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. Instead, the story, which broke on November 17, was largelyignored. 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Clearly, the benefit of 911 has been the ability to keep hiding missing money that nobody seems to care about. Originally posted on The Free: December 31, 2021 by Dave Lindorff The Pentagons $35 Trillion Accounting Black Hole The Pentagon failed its audit amid a now The Pentagon failed its audit amid a now $35 trillion scandal (yes, trillion) Lee Camp. (LogOut/ 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. 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? And for further perspective on the DoDs defense of the beggars belief figure: It means money that DoD moved from one part of the budget to another, Clark explained to Task & Purpose. This subreddit is intended for reddit users with accounts that are less 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. Published Jan 23, 2020 9:59 PM EST. No government employees in that WTC7 building were in there when it collapsed. Although it gets scant public attention compared with airstrikes, troop deployments, sexual assault statistics or major weapons programs, the reliability of the Pentagons financial statement is an indication of how effectively the military manages its resources considering that it receives over half of discretionary domestic spending. 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.. Bidens plan would have little impact on GDP, Penn Wharton finds. The latest radio shows from our sister site. Samuel Huntington and , Erasmus, with the help of printer John Froben, published a Greek-Latin Parallel New Testament. The author of the ordinance, local attorney Fred Bentley Sr., attributes at least some of the decrease in crime to the bill , Kinseys two books Sexual Behavior in the Human Male, published in 1948, and Sexual Behavior in the Human Female, which followed in 1952 started what we now call the sexual revolution. My battle with the Club was one where they wanted just the perfect trades from inside trading and bribing officials. A similar loss of $10 Trillion was announced by the pentagon on September 10, 2001. Maybe this unconventional late-expansion experiment in stimulus will come to be seen as a huge success., Still, there are plenty of people who are concerned about the rise in the size of the deficit, though Fox says hes no longer one of them: As a onetime deficit worrier who has seen pretty much none of the big concerns of deficit worriers in the 1980s through early 2010s come to fruition, Im not going to get all apocalyptic about this. In my original model of this hidden system, articulated in various books and at the first Secret Space Program conference in San Mateo, California in 2014, rehypothecation formed one of the techniques by which I speculated vast amounts of fraudulent liquidity could be created and kept from the public by a kind of double-bookkeeping. 2 min read While it shouldnt come as a surprise for an organization that has famously An attorney for lawyer Alan Dershowitz wrote a letter to the U.S. District Court of Appeals for the Second Circuit on Tuesday, asking whether the , As major media and big tech continue freaking out over 159 measles cases in the U.S., anti-vaccine campaigners are increasingly being likened to terrorists as their ability to share information and earn money is being cut off. Enter your email address to subscribe to this blog and receive notifications of new posts by email. They needed the guaranteed trade. So We Talked to an Economist. 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. Like what you're reading? Trillions explained away by a little benign neglect of simple documentation? 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.. Thats what should have been the biggest news of 2021. 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 SGT Report is the corporate propaganda antidote. 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? 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. Elon Musk DEFENDS Scott Adams against WOKE CancelCulture!!! And please tell your friends they can sign up here for their own copy of this newsletter. let that number sink in) #darkskyfiles #pentagon #government You can email him at schogol@taskandpurpose.com, direct message @JeffSchogol on Twitter, or reach him on WhatsApp and Signal at 703-909-6488. Your email address will not be published. Change), You are commenting using your Facebook account. Deadly Viruses Aren't Pharma's Top Priority. And for further perspective on the DoDs defense ofthe beggars belief figure: It means money that DoD moved from one part of the budget to another, Clark explained to Task & Purpose. 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. Earlier: The Pentagon Spent Nearly $1 Billion on Audit and Failed. It sounds more appropriately news out ofThe OnionorBabylon Beegiven this is *Trillions* and not just billionsthough that itself would have been remarkable enough. 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. These changes occur at atrazine levels below what the EPA considers safe for drinking water. The Department is actively developing strategies to reduce accounting adjustments, Mark Easton wrote in a Dec. 5 response to the GAO. The watchdog agency will release a report on the subject Wednesday after reviewing more than 200,000 fourth-quarter 2018 adjustments totaling $15 trillion. The Pentagons $35 Trillion Accounting Black Hole While it shouldnt come as a surprise for an organization that has famously failed to ever pass an audit, the Pentagon 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. Anne learned to fly, and she and Charles made spectacular intercontinental flights together. 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. 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. 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. The FBI calls you. So what are these accounting adjustments? AMAZING INTEL BEING RELEASED NOW! Page 9. The ( 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. 2009-2023 The Fiscal Times. Registration on or use of this site constitutes acceptance of our Terms of Service. Worse still, it seems to have endorsed a continual problem of missing money from the Pentagon. Change). Change), You are commenting using your Facebook account. The watchdog agency will release a report on the subject Wednesday after reviewing more than 200,000 fourth-quarter 2018 adjustments totaling$15 trillion. Jeff Schogol is the senior Pentagon reporter for Task & Purpose. The Pentagon Announces $35 Trillion Accounting Black Hole for 2019 Missing Funds. WASHINGTON, D.C. U.S. Sens. Biden went after Russian President Vladimir Putin hard during his SOTU address, but withheld harsh words for , Imane Fadil, the ex-model who claimed to have witnessed demonic rituals at Silvio Berlusconis mansion died mysteriously on March 1st at age 34. Bloombergs Justin Fox crunched the data and came to a simple conclusion: Its both. Their priority is making the situation look manageable, not solving the underlying problem.. The Pentagon alone gets half the pie, a record $858 billion. Projecting out to 2050, Penn Wharton says the Sanders wealth tax would reduce GDP by 1.1% and average hourly wages would fall by 1% due to the reduction in private capital formation.. WebIn this story, we'll be finding out how the Pentagon somehow lost 35 trillion dollars, do you really believe them? While auditors found no evidence of fraud in the review of finances that Congress required, they flagged a laundry list of problems, including accounting adjustments. Of course, the courts are anything but real. The republic was constitutionally governed under Articles of Confederation with state quorums on important matters requiring nine members with a two delegate minimum present in Congress per State. His campaign says the proposals would raise $3.2 trillion over 10 years to fund investments in health care, climate, infrastructure and education. They were evacuated. 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. Their priority is making the situation look manageable, not solving the underlying problem, she said. The House is set to pass a $768 billion defense policy bill Tuesday evening, hours after the House and Senate Armed Pentagon Chief Calls on Congress to Pass Spending Bill Immediately, Another Year, Another Failed Pentagon Audit, House Set to Pass $768 Billion Bill Providing Big Boost to Pentagon Budget. Another issue is whether the Defense Department is spending its money the way Congress envisioned it would, he said. 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. Pentagon reporter for Task & Purpose the EPA considers safe for drinking water flights together worse still it! For 2019 missing Funds utm_campaign=socialflow-organic & utm_medium=social & cmpid=socialflow-facebook-business announced by the Pentagon on 10. Were in there when it collapsed, it seems to have endorsed a continual problem of money! 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