In fiscal 1999, the Department of Defense was “missing” $2.3 trillion dollars. To put that amount of money in perspective, it is approximately 3X what President-elect Obama is .
In fiscal 2000, the Department of Defense was “missing” $1.1 trillion, about 1.5X what President-elect Obama wants to invest in America.
So between October 1998 and September 2000, the Department of Defense was “missing” $3.3 trillion. Because the amount of money disappearing is so enormous, years ago we started a archive of articles on the “missing money” to try to keep up with the trillions sliding out of the federal accounts.
From 1997 to March 2001, the Under Secretary of Defense (Comptroller) who served as the chief financial officer for the Department of Defense was William J. Lynn III. In that position, he was the chief financial officer for the Department of Defense and was the principal advisor to the Secretary and Deputy Secretary of Defense for all budgetary and fiscal matters. That means he was the person responsible to make sure no money went missing and that the Department of Defense published audited financial statements — which it failed to do in those years and every year since.
When Mr. Lynn left Defense in 2001, he joined DFI International and then in 2005 became the chief lobbyist for Raytheon. He was replaced at Defense by Dov Zakheim.
Today, President Elect Obama nominated William J. Lynn III as the Deputy Secretary of Defense. The press release said, “Lynn brings decades of experience and expertise in reforming government spending and making the tough choices necessary to ensure that American tax dollars are spent wisely.”
Obama also nominated Robert Hale to Lynn’s former position, Under Secretary of Defense (Comptroller). From 1994 to 2001, Mr. Hale served as the Assistant Secretary of the Air Force (Financial Management and Comptroller). That means that Hale, same as Lynn, was in charge of the money when all the money disappeared.
I guess the guys who got the last $3.3 trillion were pretty happy with Mr. Lynn and Mr. Hale and decided to bring them back.
Which brings me to the question I keep asking, “Where is the money and how do we get it back?“
I come from and USAF family. We have alot of worry about how jobs/equitity/skills of americians are getting erroaded. our $XXX,XXC.00 net worth had been sucked downward. I have been studying to be a webmaster, and now I can’t find a position in that field. I have been job hunting for 2 years, and living on my saving here in Hillsboro, Or.
If my dad the “Colonol” – ( Col. Brant Holme ,Jr USAF) learned of the missing Defense monies, He would be on the phone to Mr. Gates to ring his neck. Col. Brant knew a man named Henry Morganthau,jr in the state dept. way back in the 1940’s.
any way, I don’t want to loss my faith/trust in investing and working for my family. But I am getting very mad. For instance. The New Digital TV’s, hell they can’t gain a good signal (Decode) off the air, and replay on the Tv display. You just get pixel shit. WHy is that???? The USA does not need Digital TV. Hocky Pock Hoouey! Non-proven technology-just got rammed down our necks.
and the Tarp bail out is a werid bunch of Hoouey too. Where is our Money going to?? Wall street is werid all of 2008, and now too. An investor can’t even trust charting technigues.
Ok I will calm-down, I am glad I learn about this missing chunk of $$ from Mrs. K.A Fits. Thank you for being a great Americain patriot for US investors.
Catherine,
This “missing” $Trillions swallowed by DOD begs the question:
Who is running the “Government” or more precisely “our” micro/macro economic policy?
The missing funds at least defend a “parallel” USA command and control; is this the proverbial industrial military complex warned about by the POTUS Eisenhower?
Such wealth redistribution leads me to the conclusion that feudalism still exists – though with the possibility of some quality of life movement by applying personal productivity and prudent spending / saving plans.
Is the solution dividing the USA into regions (east, central, and west) each with its own executive to return to federalism while maintaining a common defense and monetary system?
This could be accomplished peacefully by Constitutional convention while utilizing our current government structures / DC locations / 538 federal legislators.
Regardless, the USA will survive and heal from this self inflicted wound as we wisely apply eternal vigilance. God save the USA.