Budget Buster: Pentagon Unable to Account for “Trillions,” Glain Says

[moderate libertarian]

Fussing over price tag of freedom again.


Budget Buster: Pentagon Unable to Account for “Trillions,” Glain Says

By Peter Gorenstein | Daily Ticker – Fri, Aug 12, 2011 12:08 PM EDT

The United States military budget accounts for over 40% of the world's annual military expenditures and, at around $700 billion per year, more than 20% of the federal budget. The Federal government wants to curb that spending as part of deficit reduction.

Last week's deficit deal calls for up to $350 billion in cuts over the next decade on the departments of Defense, State, Homeland Security and Veterans Affairs, among others. And, if the debt "super-committee" fails to reach a deal on $1.2 trillion in budget cuts, it will automatically trigger an additional $500 billion in cuts over the next decade.



http://finance.yahoo.com/blogs/daily-ticker/budget-buster-pentagon-unable-account-trillions-glain-says-160838112.html

This comment below the newsstory is telling.


One of the biggest problems in defense spending is the fact that if they don't spend 100% of their budget, their following year's budget is in question. This forces a lot of waste at the end of each year as they scramble to spend it on whatever they can to zero out the books

[oyarde]

Yeah , I know , Bleh !

[flightlesskiwi]

One of the biggest problems in defense spending is the fact that if they don't spend 100% of their budget, their following year's budget is in question. This forces a lot of waste at the end of each year as they scramble to spend it on whatever they can to zero out the books

this is true of every agency. even at the state level. i worked in an advisement office on my college campus-- at the end of the year, my bosses would make a list of things they wanted (not needed) in order to fully spend the whole budget for the year-- that way the univ. wouldn't cut their budget for the next year.

use it or lose it. insane policy.

[specsaregood]

this is true of every agency. even at the state level. i worked in an advisement office on my college campus-- at the end of the year, my bosses would make a list of things they wanted (not needed) in order to fully spend the whole budget for the year-- that way the univ. wouldn't cut their budget for the next year.

use it or lose it. insane policy.

Its the same policy in corporate america.

As far at the OP, I guess that is one way to keep your budget from getting cut, just give the line items out so they don't know what to cut.

[Anti Federalist]

Great.

The last time the Pentagon announced it had "lost" trillions of dollars and could not account for them, and was also being threatened with cutbacks, was 10 Sept. 2001.

:-/

[coastie]

Great.

The last time the Pentagon announced it had "lost" trillions of dollars and could not account for them, and was also being threatened with cutbacks, was 9 10 Sept. 2011.

:-/
Fixed, for historical accuracy.

:p

http://www.youtube.com/watch?v=3kpWqdPMjmo

[oyarde]

Great.

The last time the Pentagon announced it had "lost" trillions of dollars and could not account for them, and was also being threatened with cutbacks, was 9 Sept. 2011.

:-/

Yes

[oyarde]

Where is the money ?

[Anti Federalist]

Fixed, for historical accuracy.

Thanks man, good to know my long term memory is not completely shot, only 1 day off.

Damn, mistyped the year too.

Fixed.

[jkr]

...did you drop your purse in the desert?

[coastie]

Thanks man, good to know my long term memory is not completely shot, only 1 day off.

Damn, mistyped the year too.

Fixed.


Heh, made myself look like a jackass in the process by not noticing that. Dame you wake n bakes!
:o

[flightlesskiwi]

Great.

The last time the Pentagon announced it had "lost" trillions of dollars and could not account for them, and was also being threatened with cutbacks, was 9 Sept. 2011.

:-/

AF, you have a way of taking an already depressing thread and making it much more depressing. what a gift!

....

about the retirement liabilities for the military: the idea to require all troops to pay into the thrift savings plan (that would be untouchable with few exceptions until the age 65) has been officially floated. the funny thing about it: they are trying to make a retirement contribution incentive (the contribution would potentially double) for those in hazardous duty locations!!! get ready for more war, people. all for the benefit of retirements!

consider that some of these people are under 5 to 10 year contracts and have been on multiple deployments. and can be stop lossed if there is a mass exodus of personnel (once their contracts are up) when (not if, but when) the government decides to, instead of stopping the spread of our empire, screw over the said personnel.

lovely, just lovely.

http://www.slideshare.net/BrianLucke/modernizing-the-military-retirement-system

[Anti Federalist]

AF, you have a way of taking an already depressing thread and making it much more depressing. what a gift!

It's a curse, trust me. :(

At least you can chuckle that I got the date wrong.

10 Sept. 2001, is what I meant to write.

[flightlesskiwi]

It's a curse, trust me. :(

At least you can chuckle that I got the date wrong.

10 Sept. 2001, is what I meant to write.

it's not a curse. the ability to spread reality is a gift.

i noticed the date. we'll just wait and see if you are prophetic. :p :(