Missing Money

MISSING MONEY With a national debt approaching $17 trillion, Uncle Sam is tightening his belt and looking under the cushions for extra change. But a closer look at his pocket book reveals just how little he knows about where your money is going. Below are a few examples that will make you think twice about Uncle Sam's accounting skills. 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 5.6 5.6 5.8 6.2 7.4 7.9 8.5 10 SURPLUS (UNDER BUDGET) 11.9 DEFICIT (OVER BUDGET) 13.5 14.8 DEBT (ACCUMULATED DEFICIT) 16.1 16.9 There's No Business Like D.O.D. Business At the close of each fiscal year, federal agencies are required by law to balance their books and submit a financial statement; however, they're not always up to par. So, in 2000, the GAO (Government Accountability Office) conducted a review and found that 21 out of 24 major government financial systems did not comply with federal accounting standards. Non-Compliant Compliant to accounting standards to accounting standards OF OPARTMENT SERVICE TREASERY FOREST UAS ***... ....*** STATES OF RTMENTOF AGRICU The agency with the most significant financial problems was, by far, the Department of Defense; followed by the Forest Service, the FAA, and the IRS. THESE ARE SOME COMMON PROBLEMS WITH THE B0OKS Unsupported Adjustments Money received to buy a tank. $100 $150 +550 Unsupported Adjustments are the adjustments made in accounting records to force the books to balance when they don't add up. Money spent to buy a tank Unsupperted Adjustment.. Balance $0 Black Budgets Money received A black budget is a secret budget used for 'national security' that we Money spent may never know anything about. Balance Dude, Where's My Cash? In 1999, a D.O.D. audit revealed that $2.3 trillion could not be accounted for. Donald Rumsfeld, in some of the worst timing ever, brought it to the public's eye in a speech he gave the day before 9/11. Missing Money. $2.3 trillion Tanks, Planes, and Javelin Missile Command Launch Units In 2003, the D.O.D. Inspector General revealed that $1 trillion could not be accounted for. A GAO (Government Accountability Office) investigation found that the Army had also lost 56 airplanes, 32 tanks, and 36 Javelin missile command launch units. Missing Money.. $1 trillion plus missing equipment Cash on a Plane In 2004, in order to help rebuild Iraq, the U.S. shrink wrapped $20 billion onto pallets and flew the cash to Iraq. From what the U.S. government can tell, $6.6 billion of it is missing. Meanwhile the Iraqi government says $18.7 billion of it is missing. DO NOT STEAL Missing Meney. $6.6 billion Contractors Gone Wild The Commission on Wartime Contracting found that from 2002-2011 anywhere from $31-60 billion has been lost to contractor waste and fraud. Missing Money. $31-60 billion Crude Awakening From 2004-2007, the U.S. tapped Iraqi oil wells and pledged to use the proceeds to help rebuild Iraq. Out of the $9.1 billion made from the oil, $8.7 billion is unaccounted for. That's 95% missing money. 5% to Iraq ? 95% Missing Money. The Money Tip $8.7 billion Iraq Central Bank and Pub Al-Rashid Street P.O. Box 64 Baghdad - Iraq +964-1-816-5170 Server: Fraud Waste-Abuse 5:33 AM Table: Reconstruction From 2003-2012, The Special Inspector General for 3/2003 Iraq Reconstruction (SIGIR) found it impossible to track at least $8 billion of the $53 billion spent Visa Card #XXXXXXXXXXXX9/11 Magnetic card present: The Fed Congress Approval: 2003 9/2012 rebuilding Iraq. That's 15% of the total bill. Amount: $53,000,000,000.00 58,000,000,000.00 + Tip Unsupperred Adustment 53,000,000,000,00 =Total 3,000,000,000.00 ,Uncle Sam Guest Copy Missing Money. $8 billion The Hunt for Fed's $9 Trillion TATES UNITED From 2008-2009, the Fed had placed $9 trillion onto their off-balance sheet. During a congressional hearing, the Federal Reserve Inspector General could not account for the money. RESERVE $9trillion Missing Money. D.0.D. $3.4 trillion THE FED $9 trillion Unsupported Adustment.. 22222 $12.4 trillion plus ????? TOTAL MISSING MONEY.. $16.9 trillion These are estimates based on what is known about the unknown; nevertheless, 12.4 trillion is 73% of $12.4 trillion America's entire national debt. That's a whole lot of missing money. Missing Money National Debt MAYBE THAT'S WHY THE FOUNDING FATHERS SAID THIS... "No money shall be drawn from the Treasury, but in consequence of appropriations made by law; and a regular statement and account of receipts and expenditures of all public money shall be published from time to time." - US Constitution, Article I, Section 9 BROUGHT TO YOU BY: www.masters-in-accounting.org DESIGNER: ERIC PHILLIPS.NET Sources: http://www.usgovernmentdebt.us/spending_chart_1999_2013USB_14s2li111mcn_HOFGOF http://www.usdebtclock.org http://www.nytimes.com/2013/05/15/business/cbo-cuts-2013-deficit-estimate-by-24-percent.html?pagewanted=all&_r=0 http://www.gao.gov/pas/2001/d01241.pdf http://www.fas.org/sgp/crs/natsec/IB87201.pdf http://www.whereisthemoney.org/FAQ-detail.htm http://www.defense.gov/news/newsarticle.aspx?id=44199 http://www.defense.gov/speeches/speech.aspx?speechid=430 http://www.sfgate.com/news/article/Military-waste-under-fire-1-trillion-missing-2616120.php http://www.rawstory.com/rs/2010/07/27/pentagon-account-87-billion-iraqi-funds/ http://www.rawstory.com/rs/2011/06/19/missing-iraq-money-may-be-as-much-as-18-billion/ http://cybercemetery.unt.edu/archive/cwc/20110929213820/http://www.wartimecontracting.gov/docs/CWC_FinalReport-lowres.pdf http://www.sigir.mil/embargo/files/audits/13-006.pdf http://blog.independent.org/2009/06/03/federal-reserve-cannot-account-for-9-trillion/ AOLAMTS E SER NTERNAL ATION NOILY OMINIS DEFENSE ***** AMERICAY UNITED SAS FEDERAL