The U.S. Army Lost Track of $6.5 Trillion

The Army made headlines in mid-August 2016 when a Defense Department Inspector General report landed with a heavy thud. The 75-page reportdetailed all the ways the Army screwed up its accounting of the Army General Fund in 2015.

According to the report, Army bookkeepers screwed up the budget to the tune of … $6.5 trillion dollars.

That’s $6.5 trillion in accounting mistakes for the year 2015 alone. That’s such a huge number that it doesn’t even make a lot of sense. The annual budget for the entire U.S. military in the past few years has been around half-a-trillion bucks. …

To understand this accounting mistake, it’s important to understand what it’snot. This trillion-dollar screw-up probably isn’t missing money, misappropriated funds or stolen taxpayer dollars. This is an accounting error caused by a combination of bad financial practices and computer errors. It isnot a smoking gun proving the U.S. military is embezzling funds from the American public.

The U.S. Army Lost Track of $6.5 Trillion