Wednesday, July 9, 2008
Few interesting facts about Pentagon
"since 2004, the Pentagon has spent roughly $16 billion annually to maintain and modernize the military's business system, but most are as unreliable as ever-even as the surge in defense spending is creating more room for error. "
"for the first three quarters of 2007, $1.1 trillion in army accounting entries hadn't been properly reviewed or substantiated, according to the Department of Defense's inspector general."
"in 2006, $258.2 billion of recorded withdrawals and payments from the army's main account were unsupported."
"in 2000, a Pentagon inspector general finds $2.3 trillion in unsupported accounting entries on the Defense Department's books."
"Two South Carolina sisters who supplied small parts to the military bilked it of more than $20 million by charging wildly inflated shipping costs for low-priced items, like $998,798 for shipping two 19-cent washers to an army base in Texas. The scheme lasted six years before they were caught in 2006."
Las Vegas, LA, Phoenix, NYC
Facts are borrowed from "The Pentagon's $1 TRILLION Problem" written by Scot Paltrow and published on May 2008 in Conde Nast Portfolio magazine.