Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Army Accounting Off By TRILLIONS Audit Reveals
Posted
August 22, 2016
Views
73,797
Likes
1,713
Comments
561
Engagement
3.08%
August 22, 2016
73,797
1,713
561
3.08%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
9:11Now PlayingAn audit shows that the US Army accounting books are a little off…by a couple trillion dollars. Cenk Uygur, John Iadarola, Jimmy Dore, and Ryan Clayton, hosts of The Young Turks, break it down. Tell us what you think in the comment section below.
“The United States Army’s finances are so jumbled it had to make trillions of dollars of improper accounting adjustments to create an illusion that its books are balanced.
The Defense Department’s Inspector General, in a June report, said the Army made $2.8 trillion in wrongful adjustments to accounting entries in one quarter alone in 2015, and $6.5 trillion for the year. Yet the Army lacked receipts and invoices to support those numbers or simply made them up.
As a result, the Army’s financial statements for 2015 were “materially misstated,” the report concluded. The “forced” adjustments rendered the statements useless because “DoD and Army managers could not rely on the data in their accounting systems when making management and resource decisions.”
Disclosure of the Army’s manipulation of numbers is the latest example of the severe accounting problems plaguing the Defense Department for decades.
The report affirms a 2013 Reuters series revealing how the Defense Department falsified accounting on a large scale as it scrambled to close its books. As a result, there has been no way to know how the Defense Department – far and away the biggest chunk of Congress’ annual budget – spends the public’s money.”
Read more here
Hosts: Cenk Uygur, John Iadarola, Jimmy Dore, Ryan Clayton
Cast: Cenk Uygur, John Iadarola, Jimmy Dore, Ryan Clayton
***
The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 68pm ET.
Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
Download audio and video of the full two hour show ondemand + the membersonly post game show by becoming a member at Your membership supports the day to day operations and is vital for our continued success and growth.
Get The Young Turks Mobile App Today!
Download the iOS version here
Download the Android version here
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
