This column is co-authored with Mark Skidmore, a Professor of Economics at Michigan State University.
In our prior column, Mark and I wrote about $21 trillion in unaccounted government transactions, primarily on defense. The DOD's (Department of Defense) as well as HUD's (Department of Housing and Urban Development) Offices of Inspector General (OIG) reference these transactions as “unsupported journal voucher adjustments.” This is polite accounting language for lost, hidden or stolen money. If such “adjustments” were small, it would be one thing. But they totaled some $21 trillion between 1998 and 2015!
. . .
Trillions in unaccounted outlays, if that's what's involved here, is trillions of our tax dollars being spent without our knowledge. If that's the case, we're talking about the biggest government financial deception in the history of the country.
Phi Beta Iota: Apart from US Government spending being documented as 50% waste on average across all policy domains, with defense and housing being the largest, there has clearly been “grand theft” and secret spending on scales most cannot imagine. There is also the off the books funding associated with the covert captured and theft of gold, and the drug trade that was facilitated by NAFTA. In brief, we are not living in heaven on earth because the US Government went rogue on us, and allowed itself to be turned into a Shadow Government serving the Deep State instead of the public interest.