Pentagon fails to pass new financial audit, unable to account for over $2 trillion in assets

The US Department of Defense has, for the fifth straight year, failed to pass a financial audit, with only seven out of the Pentagon’s 27 military agencies receiving a passing grade.

“We failed to get an ‘A’,” Mike McCord, the Pentagon’s comptroller and chief financial officer, told reporters last week, announcing the results of the Pentagon’s fifth-ever financial audit.

“I would not say that we flunked,” he added, despite his office acknowledging that the Pentagon only managed to account for 39 percent of its $3.5 trillion in assets.

With this failure, the Pentagon has kept its spot as the only US government agency to have never passed a comprehensive audit. It also highlights the US war department’s persistent lack of internal financial control, its poor budget estimations and rampant overspending.

A clear example of this is the F-35 program, which has gone over its original budget by $165 billion to build a plane tasked to perform many different tasks, none of which it does well.

The Pentagon is slated to buy more than 2,400 F-35s for the Air Force, Marines, and Navy. The estimated lifetime cost for procuring and operating these planes – $1.7 trillion – would make it the Pentagon’s most expensive weapons project ever.

A 2021 Pentagon assessment of the F-35 found 800 unresolved defects in the plane.

There is also the current plan to expand Washington’s ship production, as part of the Pentagon’s obsession with preparing for a potential war with China.

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The U.S. Military Doesn’t Even Track How Many Weapons It Loses, And It Has Lost Thousands

Adamning investigative report published by The Associated Press today details how over 2,000 weapons have gone missing from military arsenals between 2010 and 2019. While the data set was far from complete, what the outlet did obtain shows a worrying pattern of lost and stolen weapons, some of which ended up in the hands of criminals who used them in the commission of violent crimes, while others were even simply discarded in public parks.

The Associated Press‘s investigation states that, between 2010 and 2019, these weapons went missing or were deliberately taken from a wide variety of locations, including armories, warehouses, firing ranges, Navy vessels, or even while in transit. Reasons cited in the report included unlocked doors, burglary, security personnel falling asleep, or lapses in surveillance and other security systems. 1,504 weapons were reported missing or stolen from the Army, 211 from the Navy, 204 from the Marines, and 39 were categorized as “Other,” which presumably includes the U.S. Coast Guard and Department of Defense security forces like the Pentagon Force Protection Agency.

While the Marines and Navy offered their own figures about weapons lost or stolen throughout the last decade, the Army and Air Force did not willingly provide The Associated Press with exact numbers about how many of their weapons were unaccounted for, so the report instead relied on Freedom of Information Act (FOIA) requests for military criminal case files, as well as internal military small arms registries. One of those FOIA requests filed with the Army’s Office of the Provost Marshal General revealed 1,303 lost firearms from the Army alone. The AP reported the Air Force was less cooperative:

The Air Force was the only service branch not to release data. It first responded to several Freedom of Information Act requests by saying no records existed. Air Force representatives then said they would not provide details until yet another FOIA request, filed 1.5 years ago, was fully processed.

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