The Pentagon’s $35 Trillion Accounting Black Hole
While it shouldn’t come as a surprise for an organization that has famously failed to ever pass an audit, the Pentagon was nevertheless able to shock some observers this week with a new batch of financial numbers.According to Bloomberg’s Anthony Carpaccio, the Department of Defense made $35 trillion in “accounting adjustments” in 2019, easily surpassing the $30.7 trillion in such adjustments recorded in 2018.Carpaccio notes that the number “dwarfs the $738 billion of defense-related...| Yahoo Finance
