$8.7 BILLION

July 27, 2010DEVELOPMENT FUND FOR IRAQ: DEPARTMENT OF DEFENSE NEEDS TO IMPROVE FINANCIAL AND MANAGEMENT CONTROLS

Special Inspector General for Iraq Reconstruction (SIGIR) reported today “Weaknesses in DoD’s financial and management controls left it unable to properly account for $8.7 billion of the $9.1 billion in DFI funds it received for reconstruction activities in Iraq. This situation occurred because most DoD organizations receiving DFI funds did not establish the required Department of the Treasury accounts and no DoD organization was designated as the executive agent for managing the use of DFI funds.  The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss.”

I don’t know about many of you reading this, but here in California, that’s almost a full tank of gas.  In some areas of the country, $8.7 billion might constitute a full week’s wages.  We’re talking some serious money here, folks.

There has always been money misappropriated throughout government.  Sometimes it is millions or even tens of millions of dollars.  However, when we begin talking about $8,700,000,000 or almost 96% of the money allocated for one (count ‘em all on 1 finger…one) project, I have to wonder if there is any governing going on from the White House down.

Thus far, all I have seen is strong-arming, finger-pointing, blaming, name calling, institutional take-over, radical Muslim protection, military defense destruction and job losses.  Governing?  I haven’t seen any yet.

Eight billion-seven hundred million dollars! Hello America!  Is anybody awake in this country?  Does anybody care that we are being fleeced and the only explanation available is that those of us who are not involved in government are simply racists for questioning what’s happening?

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One Response to “$8.7 BILLION”

  1. Raymond Newberry Says:

    My Turn:
    Is it conceivable that Obama’s purpose for czars is so that when He and his minions rip off the people, there can only be one person to blame? Everyone else involved can play stupid (as they do) and simply say, “I don’t know.” Of course we can show our ire and rightfully so but with a Czar in every field there will be one ultimate scapegoat. Scapegoat for example which with this new brand of world executives is probably a blessing for them in disguise to us. ie; BP CEO…Is it possible that the BP explosion was planned previously with details laid out within the good ole boy network with offers that no one cold refuse? (I raise my hand to volunteer)

    Tony Hayword (CEO) has to step down (retire) sure his reputation is tarnished which is why he is so heart broken sailing the 7 seas. Give me a break, His punishment is a fist full, no wait, a trunk full, wait a minute, bank loads of of dollars with a retirement package that has Satan rolling over in his grave with envy, if Satan were dead of course. A new guy is now CEO and no one to blame personally because they swept former CEO away just as soon as they could.

    Back to the missing 8.7 Billion, why not say only .4 million out of 9.1 BILLION dollars traceable? Same thing only one has less sting to it than the other. It is the good old boy network in my humble opinion doing what they do best..The network of friends keep getting richer and insanely richer while we the people keep getting poorer and obscenely poorer.

    No one else in the world would get away with these kinds of losses and keep their job, no one else in the world would destroy the environment and face a sever penalty of retirement with millions except a politician and friends, close friends of politicians…Everyone else would be imprisoned….

    Who will be the worlds next scapegoat? One lucky SOB….

    Raymond Newberry

    Like

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