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Bill Whittle Network

Audit Shows Pentagon 'Lost' 61% of Its Assets: Chief Accountant Calls It 'Teachable Moment'

Bill Whittle Network

Bill Whittle Network

News

4.9720 Ratings

🗓️ 3 December 2022

⏱️ 21 minutes

🧾️ Download transcript

Summary

The Defense Department, in a recent audit, could not account for some 61% of its assets. Pentagon Comptroller Mike McCord said "we failed to get an 'A'" and called it "a teachable moment" that should help the department get better. Bill Whittle thinks heads should roll. Bill Whittle, Stephen Green and Scott Ott have co-hosted a current events show multiple times weekly since 2009 thanks to our Members and donors. To become a Member and unlock exclusive features of our site: https://BillWhittle.com/register/ To donate with PayPal or bank card: https://BillWhittle.com/donate-to-Bill-Whittle/

Transcript

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0:00.0

Well, like most red-blooded Americans, I'm a big fan of the Defense Department, at least in theory.

0:04.5

I like watching the stuff that we do go out there and kick some ass.

0:08.3

I think it's an important part of being able to remain a free country and watching the U.S. military inaction, especially after watching the Russian military inaction, is just something I'm pretty much universally proud of.

0:20.1

There's one part of the military I'm not universally proud of, however,

0:22.8

and that is the procurement and the accounting side of the Defense Department.

0:28.5

And we have a news article here to show that, as it turns out,

0:32.4

the Defense Department has, in fact, got a few trivial problems in terms of their accounting.

0:39.9

The article from the Hill says,

0:46.2

and I'm quoting directly now, the Defense Department has failed its fifth ever audit. Failed it.

0:51.1

Unable to account for more than half of its assets, but the effort is being viewed as, quote,

0:55.5

a teachable moment, unquote, according to its chief financial officer.

1:00.9

So the chief financial officer of the Defense Department that failed its audit said, well, yes,

1:05.2

we don't know where half of our stuff is, but it's, but that's a learning experience for all of us.

1:07.2

I'll learn to say, I'm getting there.

1:09.2

It's a learning experience for all of us.

1:10.8

The article goes on. After 1,600 auditors combed through the Department of Defense's $3.5 trillion in assets,

1:18.6

now, assets, officials found that the department could not account for 61% of its assets,

1:25.6

Pentagon controller Mike McCord told reporters on Tuesday.

1:28.8

Now, I have here a very simple calculator because I had been promised there is no math.

1:32.2

So let's just see here.

1:33.1

And this does not include their annual budget.

1:34.8

This is just their assets.

...

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