Defense Department can’t locate $8.7Billion dollars of $9.1 allocated to it for the Redevelopment fund for the reconstruction of Iraq.
When I see stories like this I break out in hives. I feel “real confident” that our government can run health care after seeing that $8.7 billion dollars disappeared into thin air.
Here is the post from Rachel Stevens from Federal News Radio…
The Defense Department is unable to account for $8.7 billion of the $9.1 billion in Development Fund for Iraq monies in received for reconstruction in Iraq. This according to a study published today by the Special Inspector General for Iraq Reconstruction.
“This situation occurred because most DoD organizations receiving DFI (Development Fund for Iraq) funds did not establish the required Department of the Treasury accounts and no DoD organization was designated as the executive agent for managing the use of DFI funds,” the report states.
The Special Inspector General for Iraq Reconstruction (SIGIR) finds that only one Defense organization actually set up the accounts required by the Treasury.
“The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss,” SIGIR says.
The study recommends that the Secretary of Defense create new accounting and reporting procedures to avoid such mistakes in the future. It also recommends designating an executive agent to oversee progress, establishing measurable milestones, and determining whether any DoD organizations are still holding DFI funds.
The first thing government does is “create new accounting and reporting procedures to avoid such mistakes in the future.” Is everyone in government an embecile. You have 1 agency that did it right and created the necessary accounts to disburse money and the rest of these clowns did not do their job. First thing government wants to do is write up more regulations and procedures to follow so those charged with the responsibility of carrying out the government objectives will get it right this time.
These morons can’t follow regulations and procedures in place now-why should writing more regulations change anything?
Simply put the story should read - government people stole $8.7 billion dollars from a $9.1 billion dollar allocation fund.
Nothing left to said other than catch the criminals that are in your presence and send them to jail.
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