The Pentagon Announces $35 Trillion Accounting Black Hole for 2019 Missing Funds. There isnt 35 trillion missing. 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. Clearly, the 'It would be like moving money from checking, to savings, to your 401K, to your credit card, and then back. 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. Thats obscene, they stole how much money? And as we noted then, critics of the Penn Wharton model question some of its assumptions about how higher taxes affect the economy. Founder of Architects for 911 Truth. according to a recent Government Accountability Office report. Bloombergs Justin Fox crunched the data and came to a simple conclusion: Its both. 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The US, a banking subsidiary since Andrew Hamilton and the 1st Bank of the US sold the country to international bankers (65%) and domestic (25%) with 10% for the bank itself, has never defended freedom of any kind but has ALWAYS been on the offensive as the Revolutionary war was a Freemasonic one. They are just proxies for the government with their 99% conviction rates. And it means that you're probably spending a lot of time moving money around instead of actually getting the work done, Clark said. WebIn this story, we'll be finding out how the Pentagon somehow lost 35 trillion dollars, do you really believe them? CTRL + SPACE for auto-complete. The MarshallReport, Why Are Colleges Still Mandating COVID Vaccines for Students? In laymans terms, this means that the DoD made adjustments to accounting records without having documentation to support the need or amount for the adjustment, she said. The GAO estimated based on a sample that at least 96% of 181,947 automatic adjustments made in the fourth quarter of fiscal 2018 didnt have adequate supporting documentation., In laymans terms, this means that the DoD made adjustments to accounting records without having documentation to support the need or amount for the adjustment, said Dwrena Allen, spokeswoman for the Pentagons inspector general. Tesla first demonstrated wireless transmissions during a lecture in 1891. So what are these accounting adjustments? The governments claim was itcollapsed from fire. Their priority is making the situation look manageable, not solving the underlying problem.. RIP, Jim Lehrer. Nobody does that.. 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 (ZH) Over the past two weeks of coronavirus headlines and heightened global anxiety, along with impeachment coverage and after over the Super Bowl weekend Americans huddled in living rooms in blissful oblivion, a story which in more normal times would be front and center has gone largely unnoticed. Consider too that the current actual US budge for defense-related funding is$738 billion. The motto seems to be we do not kill your own, only civilians. (LogOut/ This was an office building, not a chemical facility. What it all means: The results arent necessarily surprising. The Pentagon Announces $35 Trillion Accounting Black Hole for 2019 Missing Funds HISTORY HEIST Skip to content Search Search for:Search Home News Alternative Political News Articles Videos Financial Articles Videos Health Articles Videos Prep / Survival Articles Videos Christian News Articles History Timelines Timeline Newest Design a site like this with WordPress.com, Hackers Can Turn Everyday Speakers Into Acoustic Cyberweapons, Police Officers/ Gang Stalkers and Mentally Illness, William Barr trying time renew criminal Watch List, Six Paths to the Nonsurgical Future of Brain-Machine Interfaces, Forbes Article: HLS keyword search of social media sites, Elon Musks neurotechnology company, Neuralink. According to Bloombergs Anthony Carpaccio, the Department of Defense made $35 trillion in accounting adjustments in 2019, easily surpassing the $30.7 trillion Pentagon loses 50 cents of every dollar allocated by congress. I have stated that the coincidence withWTC7 collapsewas a wipeout of evidence as was the Pentagon which conveniently hit the room with all the evidence about the missing $2.3 trillion from the defense budget. Their priority is making the situation look manageable, not solving the underlying problem, she said. His campaign says the proposals would raise $3.2 trillion over 10 years to fund investments in health care, climate, infrastructure and education. In 1930, the first of their six children, Charles, Jr., was born, dubbed the Eaglet by the press. 2009-2023 The Fiscal Times. The Biden proposal has two opposing effects on the macroeconomy, the new study explains. Economists, including the ones who would do official analyses of any tax legislation, assume that workers ultimately pay part of the corporate income tax in the form of lower wages, The Wall Street Journals Richard Rubin explains. It means there's a lot of money moving between accounts that may not be exactly where Congress wanted to put the money in the first place.. Jeff Schogol Whats most important to an auditor is whether the adjustments are properly supported because properly supported adjustments ensure financial statement values are accurate. Christian, Patriot, Entrepreneur. Remember to thank those in the military for their service. 22% unknown outcomes! Naturally, the first and only question we should start with is:how is this even possible? 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 says. Mark Easton, the Defense Departments deputy chief financial officer, wrote the GAO that in response to its audit the department is actively developing strategies to reduce accounting adjustments. There was no source of fuel and the photos of the collapse fail to show a raging fire. So what are these accounting adjustments? The Sanders campaign estimates that his wealth tax would raise $4.35 trillion over a decade, but Penn Wharton projects it would fall more than $1 trillion short of that mark, raising between $2.8 trillion and $3.3 trillion over 10 years. But a combination of long-ago policy choices and recent ones have put us on a path where those who continue to worry about deficits are going to have a lot more to worry about., The claim that tax cuts dont cost money is a lie that wont die, because proponents of tax cuts have learned that many voters like to hear it., The New York Times Editorial Board, in a piece examining Treasury Secretary Steven Mnuchins renewed claim this week that the Trump tax cuts will pay for themselves, which the editorial calls a risible fantasy.. 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. Yesterday I blogged about the new logo for the USAs new Space Force, a logo that to my and many other peoples eyes looks all-too-suspiciously like the Starfleet logo from Star Trek. You must understand that the Club was all about rigging the game so they always win. Each budget category is so broadly defined that the Pentagon could use money slated for research and development to fund manpower costs if it wanted to. Penn Wharton estimates that plan by itself would raise $267 billion in additional revenues from 2021 through 2030 (without accounting for economic effects) and would increase the percentage of estates subject to taxation though it would still only apply to less than 0.5% of people who died in any given year. 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. The latest estimate is up from$30.7 trillionin 2018 and$29 trillionin 2017, the first year adjustments were tracked in a concerted way, according to Pentagon figures and a lawmaker whos pursued the accounting morass. He said he was told by the head of the firm to come to him with guaranteed trades not recommendations. At first, I was skeptical worried that he was perhaps sent in by the club as they had done before with the nephew of uncle Ed Rothschild. Its a business a multi-billion dollar business. Fadil was also looking to be a witness in a related investigation (dubbed Ruby ter) that is still ongoing. A lot may be an understatement: According to government data, there were 562,568 adjustments made in the Pentagons books in 2018. Like what you're reading? He worked for one of the biggest hedge funds in New York and he called me and wanted a job. The size and scope of unsupported adjustments is deeply concerning because it tells a story of poor internal controls and lack of financial data integrity.. The Pentagon, with some $3 trillion (give or take a trillion but whos counting?) Bob told me he wanted to leave the firm and join my team because we were the only clean house in the market. The Penn Wharton Budget Models earlier analysis of Sen. Elizabeth Warrens wealth tax found that it would raise as much as $2.7 trillion in revenue over 10 years well shy of the $3.8 trillion Warrens camp estimated. The Pentagons $35 Trillion Accounting Black Hole, Plus: Sanders, Biden tax plans come up short, study says. All rights reserved. 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 0. Change), You are commenting using your Twitter account. And please tell your friends they can sign up here for their own copy of this newsletter. This article originally appeared on Zero Hedge. Like what you're reading? SGT Report is the corporate propaganda antidote. The latest estimate is up from$30.7 trillionin 2018 and$29 trillionin 2017, the first year adjustments were tracked in a concerted way, according to Pentagon figures and a lawmaker whos pursued the accounting morass. It sounds more appropriately news out ofThe OnionorBabylon Beegiven this is *Trillions* and not just billionsthough that itself would have been remarkable enough. Penn Wharton reportedly plans to follow up with additional analysis considering the effects of the tax plans if the revenue raised were used to fund investments that boost productivity. Now, theres two ways to count money two, or three, or several times: one is to do so inadvertently and by mistake, which is what were being asked to believe here. https://gabpay.live/CompleteQR/9Y95IV, BITCOIN ADDRESS: SGT Report is your daily source for truth in a time of universal deceit. Your email address will not be published. The 1516 Greek-Latin New Testament of . Worse still, it seems to have endorsed a continual problem of missing money from the Pentagon. Embed Share. The next day, the WTC was attacked as well as the pentagon itself. bc1q5z3xe8syvrt5xd52880mgj644tv9d5q55rk6tc, MONERO ADDRESS: The watchdog agency will release a report on the subject Wednesday after reviewing more than 200,000 fourth-quarter 2018 adjustments totaling $15 trillion. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Spokeswoman for the Pentagons inspector general,Dwrena Allen, downplayed what to most Americans will sound like the makings of an explosive scandal. To be sure, the Pentagon couldnt be happier that this bombshell has taken a back burner in global headlines: The Pentagon made$35 trillionin accounting adjustments last year alone a total thats larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books. 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. Its not a pile of cash, and its not all expenditures. WASHINGTON, D.C. U.S. Sens. 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 continuing difficulty in balancing its books. in assets and a record current 2021 budget of $738 billion, has for the third year in a row failed its audit. Jeff Schogol is the senior Pentagon reporter for Task & Purpose. Your car is broken into and the thief takes your computer and your reporters notebook and leaves everything else behind. Mark R. Warner and Tim Kaine (both D-VA) today voted for the passage of the $1.5 trillion government spending bill. The spending adjustments follow the Pentagons first failed audit in 2018 and another failed audit in 2018, according to Bloomberg. 4. Thats what should have been the biggest news of 2021. It sounds more appropriately news out ofThe OnionorBabylon Beegiven this is *Trillions* and not just billionsthough that itself would have been remarkable enough. While it's not illegal for the Pentagon to move money so often among different budget accounts, it does show that defense leaders are doing a poor job planning how they will spend their funds for the year, he said. WebThe Real Reason The Pentagon Is Missing 35 TRILLION Dollars. She was writing a book called I Saw the Devil. Its the accounting system , it made $35 Trillion in corrections to a budget of less than 1 trillion. Worse still, it seems to have endorsed a continual problem of missing money from the Pentagon. Change). 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. The report shows the Pentagon employs accounting adjustments like a contractor paints over mold. Forbes: The U.S. Air Force Just Admitted The F-35 Stealth Fighter Has Failed Salon: Even by Pentagon terms, this was a dud: The disastrous saga of the F-35 Esquire: This Country Is Spending $1.7 Trillion on Planes That Dont Work For that money, we could have cancelled American student loan debt. According to Bloombergs Anthony Carpaccio, the Department of Defense made $35 trillion in accounting adjustments in 2019, easily surpassing the $30.7 trillion in such adjustments recorded in 2018. by Martin Armstrong, Armstrong Economics: Recently, a tape has emerged from a private camera that was there during 911 filming the collapse of World Trade Center #7 the only one that no plane ever hit. SGT Report is the corporate propaganda antidote. I ended up hiring Bob and he was on our team during the 90s until he died suddenly of a heart attack. 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. The Most RevolutionaryAct, President Trump Reveals His New Plan to End Crime in America CleverJourneys, The Joey Show Update The MarshallReport. Tony Capaccio of Bloomberg first reported. If DoD is moving money around to this degree, that means it's unlikely that Congress' intention is being followed to the letter, Clark said. And it may contain another hint of that hidden system of finance and its practices as well. Each month, the Pentagon has to see if their financial records match what the Treasury Department has recorded, she said. Rep. Jackie Speier (D-CA), who asked the Government Accountability Office to look into the issue, said the combined errors, shorthand, and sloppy record-keeping by DoD accountants do add up to a number nearly 1.5 times the size of the U.S. economy, and charged that the Pentagon employs accounting adjustments like a contractor paints over mold. I also hired Barclay Lieb who did his due diligence on me before joining my firm. Shockingly high levels of aluminum were found in these brain samples. Trumps Fed Nominees Will Mean Easier Money, Talented Immigrants Make the U.S. Richer, Not Poorer. Your contributions make this all possible. 2009-2023 The Fiscal Times. The banks pay huge fines at shareholder expense to protect the bankers personally and nobody ever goes to jail. Ken Hammond, U.S. Air Force via Wikimedia Commons. Samuel Huntington and , Erasmus, with the help of printer John Froben, published a Greek-Latin Parallel New Testament. WebThe pentagon budget is nowhere near 2.3T. This, as I suspected then, was confined to banking and to the presence in the system of hidden and undisclosed bullion acting as a secret reserve on the ledgers. They needed the guaranteed trade. IRS Determinations Unit had asked for a search of tea party or similar organizations applications. Through 2015, an investigation had learned that tea party and patriot organizations were flagged, donor lists requested, tax exemption denied, thousands of emails deleted and backups destroyed, that IRS Commissioner and officials frequently visited the white house during , Date: March 1, 2010 Source: University of California Berkeley Summary: The herbicide atrazine, one of the worlds most widely used pesticides, wreaks havoc with the sex lives of adult male frogs, emasculating three-quarters of them and turning one in 10 into females, according to a new study. The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a concerted way, We have made significant progress in reducing the number and dollar value of unsupported adjustments by over 30% and 70%, respectively, he said. However, $35 trillion is close to 50-times the size of the Pentagons 2019 budget, so that 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. Its the Accounting system, it made $ 35 trillion Accounting Black Hole for 2019 Missing.. 562,568 adjustments made in the market notebook and leaves everything else behind trumps Fed Nominees will Mean Easier money Talented... 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