Reblogged on kommonsentsjane/blogkommonsents.
Better late than never!
How do you lose $21 trillion in 2016 under Obama?
And no one was held accountable? Glory Be!
kommonsentsjane
“Has Our Government Spent $21 Trillion Of Our Money Without Telling Us?”
By Laurence Kotlikoff
Forbes magazine, Dec 8, 2017
I am co-authoring this column with Mark Skidmore, a Professor of Economics at Michigan State University.
“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.” ~ Article I, Section 9, Clause 7, The US Constitution
On July 26, 2016, the Office of the Inspector General (OIG) issued a report “Army General Fund Adjustments Not Adequately Documented or Supported”. The report indicates that for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments.
According to the GAO’s Comptroller General, “Journal vouchers are summary-level accounting adjustments made when balances between systems cannot be reconciled. Often…
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