Posted by Bridgette
“Where Does the Money Go?”
“Who Signed for the Cash?”
“Who Was Responsible After Receiving the Cash?”
“Why Would the Government Send Bundles of $100 bills?
“The Inspector General Can’t Follow the Paper Trail?”
Judicial Watch reports,
“Oops! Pentagon Loses Track Of $6.6 Billion”
June 13, 2011
In a mind-boggling example of government corruption, billions of dollars flown to Iraq for post-invasion “reconstruction” have vanished and may never be recovered.
Bundled in chunks of $100 bills, the cash was sent from the U.S. to Iraq in turboprop military cargo planes known as C-130 Hercules. About $2.4 billion fit in each aircraft and 21 flights made trips, transporting a total of $12 billion in American currency to Iraq by 2004.
For years federal audits have determined that more than half the money cannot be accounted for but there seemed to be some hope that some of the funds could be retrieved. However, this week the Special Inspector General for Iraq Reconstruction (Stuart Bowen) essentially confirmed that $6.6 billion in cash was likely stolen and may never be recovered.
Bowen referred to it as “the largest theft of funds in national history,” in a newspaper report that points out the missing money is enough to run a major public school district for an entire year. The story also says that the mystery is a growing embarrassment to the Pentagon, which has long asserted that it could track the cash if given the time to do it.
This is simply the latest of many reports documenting the pervasive fraud and waste in Iraq reconstruction efforts, which have received more than $100 billion from U.S. taxpayers. In the last few years Inspector General audits have exposed the sordid details of costly projects that never got completed or are rife with excessive delays and shoddy work.
Isn’t it about time that we hold the government agencies that handle OUR money accountable? If it isn’t one agency, it is all agencies that are unable to track assets and liabilities. Where are the checks and balances? If they can’t do the job, let us spend our money wisely and hire an accounting firm to do the job. Mismanagement and misappropriation of funds should lead to firing or convictions. Normal businesses would get to the bottom of their problem…when will the government adhere to rules that are prevalent in the private sector? [When Pigs Fly?] Enough of the rampant corruption that is in our government. Whose job is it to track down the crooks?
Let us spend the rest of the “stimulus money” and create jobs…! To start with, those jobs would entail hiring “private sector” firms to investigate each and every government agency, examine their books, detail overlapping positions, set up rules and regulations for distribution of funds, conduct audits of personnel and funds, and examine contracts and grants, etc. We can call them “Fraud Busters!” Just the fact that they are there and present will cause fraud and waste to drop substantially. About time for government workers to fear for their jobs! Let’s take on Medicare, Medicaid, Fannie and Freddie first! Audits will lead to those who are perpetrating and aiding these crooks..and it will lead to those who are the head honchos …and even our politicians.
Enough is enough…
It’s Time to Get Our Priorities Straight!