Tuesday, November 19, 2013

Report: $8.5 trillion unaccounted for by Pentagon; $5.8 billion of supplies lost...

Image credit: afagen/Flickr
Madison Ruppert
End the Lie

A new in-depth investigation by Reuters reveals that the Pentagon has purchased billions of dollars worth of equipment it doesn’t need, has not accounted for $8.5 trillion in spending and lost supplies worth a whopping $5.8 billion over just eight years.

The fact that the Pentagon spends funds on unneeded and/or unused equipment is far from news. However, the Reuters investigation revealed that the waste is far beyond what was previously known.

Much of the wasteful spending is done by the Defense Logistics Agency (DLA), a fact which they apparently recognize.

“We have about $14 billion of inventory for lots of reasons, and probably half of that is excess to what we need," said Navy Vice Admiral Mark Harnitchek, the director of the DLA, to aviation industry executives in August.