The missing 29 TRILLION dollars - "you can't be missing twice what's there"

29 TRILLION dollars missing from Pentagon

Trump calls for audit

IWB,

15 December, 2017

Catherine Austin Fitts breaks down Trump’s investigation into a missing 29 trillion dollars

https://www.infowars.com/29-trillion-missing-from-pentagon-dod-announces-audit-under-trump/

US Debt Visualized in $100 Bills

http://demonocracy.info/infographics/usa/us_debt/us_debt.html

MSU SCHOLARS FIND $21 TRILLION IN UNAUTHORIZED GOVERNMENT SPENDING; DEFENSE DEPARTMENT TO CONDUCT FIRST-EVER AUDIT

Contact(s): Mark Skidmore, Andy Henion

Earlier this year, a Michigan State University economist, working with graduate students and a former government official, found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015.

The work of Mark Skidmore and his team, which included digging into government websites and repeated queries to U.S. agencies that went unanswered, coincided with the Office of Inspector General, at one point, disabling the links to all key documents showing the unsupported spending. (Luckily, the researchers downloaded and stored the documents.)

Now, the Department of Defense has announced it will conduct the first department-wide, independent financial audit in its history (read the Dec. 7 announcement here).

 

The Defense Department did not say specifically what led to the audit. But the announcement came four days after Skidmore discussed his team’s findings on USAWatchdog, a news outlet run by former CNN and ABC News correspondent Greg Hunter.

http://msutoday.msu.edu/news/2017/msu-scholars-find-21-trillion-in-unauthorized-government-spending-defense-department-to-conduct/

Missing Trillions

Rumsfeld Buries Admission of Missing 2+ Trillion Dollars in 9/10/01 Press Conference

On September 10, 2001, Secretary of Defense Donald Rumsfeld held a press conference to disclose that over $2,000,000,000,000 in Pentagon funds could not be accounted for. Rumsfeld stated: “According to some estimates we cannot track $2.3 trillion in transactions.” According to a report by the Inspector General, the Pentagon cannot account for 25 percent of what it spends. 1   2 

http://911research.wtc7.net/sept11/trillions.html

The entire money supply (M3) of the United States is about $14 trillion.

https://fred.stlouisfed.org/series/MABMM301USM189S

You can’t be “missing” twice the amount of what actually exists

This report is from RT

$21 trillion of unauthorized spending by US govt discovered by economics professor

The US government may have misspent $21 trillion, a professor at Michigan State University has found. Papers supporting the study briefly went missing just as an audit was announced.

Two departments of the US federal government may have spent as much as $21 trillion on things they can’t account for between 1998 and 2015. At least that’s what Mark Skidmore, a Professor of Economics at MSU specializing in public finance, and his team have found.

They came up with the figure after digging the websites of departments of Defense (DoD) and Housing and Urban Development (HUD) as well as repots of the Office of the Inspector General (OIG) over summer.

The research was triggered by Skidmore hearing Catherine Austin Fitts, a former Assistant Secretary in the HUD in the first Bush administration, saying the Inspector General found $6.5 trillion worth of military spending that the DoD couldn’t account for. She was referring to a July 2016 report by the OIG, but Skidmore thought she must be mistaking billion for trillion. Based on his previous experience with public finances, he thought the figure was too big even for an organization as large as the US military.

“Sometimes you have an adjustment just because you don’t have adequate transactions… so an auditor would just recede. Usually it’s just a small portion of authorized spending, maybe one percent at most. So for the Army one percent would be $1.2 billion of transactions that you just can’t account for,” he explained in an interview with USAWatchdog.com earlier this month.

After discovering that the figure was accurate, he and Fitts collaborated with a pair of graduate students to comb through thousands of reports of the OIG dating back to 1998, when new rules of public accountability for the federal government were set and all the way to 2015, the time of the latest reports available at the time. The research was only for the DoD and the HUD.

“This is incomplete, but we have found $21 trillion in adjustments over that period. The biggest chunk is for the Army. We were able to find 13 of the 17 years and we found about $11.5 trillion just for the Army,” Skidmore said.

The professor would not suggest whether the missing trillions went to some legitimate undisclosed projects, wasted or misappropriated, but believes his find indicates that there is something profoundly wrong with the budgeting process in the US federal government. Such lack of transparency goes against the due process of authorizing federal spending through the US Congress, he said.

Skidmore also co-authored a column on Forbes, explaining his research.

The same week the interview took place the DoD announced that it will conduct its first-ever audit. “It is important that the Congress and the American people have confidence in DoD’s management of every taxpayer dollar,” Comptroller David Norquist told reporters as he explained that the OIG has hired independent auditors to dig through the military finances.

“While we can’t know for sure what role our efforts to compile original government documents and share them with the public has played, we believe it may have made a difference,” Skidmore commented.

Interestingly, in early December the authors of the research discovered that the links to key document they used, including the 2016 report, had been disabled. Days later the documents were reposted under different addresses, they say.