2008-05-29 — financialarmageddon.com
The Pentagon's internal watchdog office has warned in a report to Congress made public that its auditors are unable to keep pace with a ballooning US defense budget.
The rapid growth of the defense budget to more than $US600 billion ($626 billion) "leaves the department increasingly more vulnerable to fraud, waste, and abuse," the Pentagon's Office of the Inspector General said.
Whereas in 1997 there was one auditor for each $642 million in Pentagon contracts, in 2007 the ratio was one auditor for each $2.03 billion in contracts, according to the report.
For those keeping score at home, this is all before the special war appropriations and military spending under other departments, which are like to be another approx. $500-800 billion for 2009.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.