Lost 21 TRILLION $ ?

OldMedUser

OldMedUser

Well-Known Member
Considering that the US spends over half of it's GDP on the military so it can play Big Brother to the whole world 21 trillion going under the table doesn't seem like a whole lot.

Just enough to eliminate homelessness. Give every citizen free medical and dental for life. Feed everyone who needs food. Could buy a few honest politicians with the change left over.

Or you could build a hell of a wall around the whole lower 48 and keep everybody out! And everybody in too like N. Korea.

War is good for business and Trump is busy working at getting the business end back up and running real quick. ;)

:peace:
 
Fogdog

Fogdog

Well-Known Member
Lucky Luke said:
Yep, I only leaned one.
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Bizarre accounting.

On July 26, 2016, the Office of the Inspector General (OIG) issued a report “Army General Fund Adjustments Not Adequately Documented or Supported”. The report indicates that for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments.

Given that the entire Army budget in fiscal year 2015 was $120 billion, unsupported adjustments were 54 times the level of spending authorized by Congress. The July 2016 report indicates that unsupported adjustments are the result of the Defense Department's "failure to correct system deficiencies." The result, according to the report, is that data used to prepare the year-end financial statements were unreliable and lacked an adequate audit trail. The report indicates that just 170 transactions accounted for $2.1 trillion in year—end unsupported adjustments. No information is given about these 170 transactions. In addition many thousands of transactions with unsubstantiated adjustments were, according to the report, removed by the Army.

https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-without-telling-us/#598c25247aef

I'm not sure if I'd be happier to learn this is all due to incompetence or if it were deliberately hiding illegal actions. It does seem bizzare to have a $120 B budget and $6.5 T in "unsupported adjustments".

If my entire household budget for the year were, say, $50k, I would have to "mistake journal entries" on the order of $2M. Where is @Ripped Farmer when we need somebody to explain how people cook books?
 
Lucky Luke

Lucky Luke

Well-Known Member
Fogdog said:
Bizarre accounting.

On July 26, 2016, the Office of the Inspector General (OIG) issued a report “Army General Fund Adjustments Not Adequately Documented or Supported”. The report indicates that for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments.

Given that the entire Army budget in fiscal year 2015 was $120 billion, unsupported adjustments were 54 times the level of spending authorized by Congress. The July 2016 report indicates that unsupported adjustments are the result of the Defense Department's "failure to correct system deficiencies." The result, according to the report, is that data used to prepare the year-end financial statements were unreliable and lacked an adequate audit trail. The report indicates that just 170 transactions accounted for $2.1 trillion in year—end unsupported adjustments. No information is given about these 170 transactions. In addition many thousands of transactions with unsubstantiated adjustments were, according to the report, removed by the Army.

https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-without-telling-us/#598c25247aef

I'm not sure if I'd be happier to learn this is all due to incompetence or if it were deliberately hiding illegal actions. It does seem bizzare to have a $120 B budget and $6.5 T in "unsupported adjustments".

If my entire household budget for the year were, say, $50k, I would have to "mistake journal entries" on the order of $2M. Where is @Ripped Farmer when we need somebody to explain how people cook books?
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At a car yard I managed for awhile we used to right back all the trade ins and transfer that right back to an old shitter that sat out the back. That way we always made a nice tidy commission on every car we sold, trouble was that shitter out the back was owing some serious cash.
 
ttystikk

ttystikk

Well-Known Member
gjs4786 said:
No doubt it's a lot of money, but how can we be sure of what kind of oversight there is, and how is it supposed to be labeled if it's meant to be secretive as to what it's paying for? Obviously, they wouldn't be able to be specific. I'm not tying to start a back and forth, but no one person knows what kind of deep level shit that's going on here. We know it's all compartmentalized, even for those who's job it is to know. Checks and balances fall apart when you have nothing to balance it against. The amount that is unaccounted for and the relative light exposure that it's been (or hasn't been) given speaks volumes on its own. I can't say with any more certainty what is or isn't anymore or less than any one here can. We'll never, ever know, so I won't let it bother me too much.

I guess it's fun to entertain what's really going on...until it's not fun anymore
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It's unaccounted for because once it's been embezzled it can't be counted anymore.
 
londonfog

londonfog

Well-Known Member
ttystikk said:
Lots of business owners write themselves paychecks.

Why don't you? Oh yeah, because you're not a business owner. You're an employee.
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not really, as a sole proprietor it would be best to just draw from your profits. That way you avoid being on payroll. Just remember to always estimate tax payments quarterly. I choose draw over a salary any day of the week. Very important tax reason behind this. I would tell but I know how you enjoy doing your "homework ".
 
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Ripped Farmer

Ripped Farmer

Well-Known Member
So they had 2 mil but only claimed 50k? Black ops are spendy these days.

I could probably help them write off a new tv for their work space. Save the receipt. Get the most expensive one. Make sure it matches the living room furniture...
 
Fogdog

Fogdog

Well-Known Member
Ripped Farmer said:
So they had 2 mil but only claimed 50k? Black ops are spendy these days.

I could probably help them write off a new tv for their work space. Save the receipt. Get the most expensive one. Make sure it matches the living room furniture...
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I'm sorry I woke you up. Go back to sleep.
 
Lucky Luke

Lucky Luke

Well-Known Member
londonfog said:
not really, as a sole proprietor it would be best to just draw from your profits. That way you avoid being on payroll. Just remember to always estimate tax payments quarterly. I choose draw over a salary any day of the week. Very important tax reason behind this. I would tell but I know how you enjoy doing your "homework ".
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Do people still right checks? Dinosaurs!

I haven't had a check book in 15 years. Very rarely even get paid by a cheque. Maybe one every 3 to 4 months. There a pain in the arse.

I'm still the last to get paid though.
 
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