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Tuesday, February 13, 2018

Friendly reminder: The DoD, HUD, and OIG are under investigation and audit due to a missing $21 TRILLION between 1998 and 2015.

“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,” said Skidmore, the Morris Chair in State and Local Government Finance and Policy at MSU.
Skidmore got involved last spring when he heard Catherine Austin Fitts, former assistant secretary of Housing and Urban Development, refer to a report which indicated the Army had $6.5 trillion in unsupported adjustments, or spending, in fiscal 2015. Given the Army’s $122 billion budget, that meant unsupported adjustments were 54 times spending authorized by Congress. Typically, such adjustments in public budgets are only a small fraction of authorized spending.
Skidmore thought Fitts had made a mistake. “Maybe she meant $6.5 billion and not $6.5 trillion,” he said. “So I found the report myself and sure enough it was $6.5 trillion.”
Skidmore and Fitts agreed to work together to investigate the issue further. Over the summer, two MSU graduate students searched government websites, especially the website of the Office of Inspector General, looking for similar documents dating to 1998. They found documents indicating a total $21 trillion in undocumented adjustments over the 1998-2015 period. (The original government documents and a report describing the issue can be found here.)

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

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