Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge.
The Pentagon has failed its seventh audit in a row, losing track of $2.5 trillion worth of assets. Where will Elon Musk possibly find $2 trillion of waste and fraud?
Last week, the Pentagon once again failed its legally mandated annual audit, suggesting that government workers are, in fact, above the law. Now the Defense Department is promising to get its books sorted by … 2028. Which just so happens to be Donald Trump‘s last year in office.
In fact, the Pentagon has never passed an audit dating back to 1990 when they were mandated by the Chief Financial Officers Act. The law gave the Pentagon until 2017—27 years—to comply, since military industrial lobbyists have a lot of friends in Congress.
Nonetheless here we are 34 years later, seven years…
