Moral Outrage
Whew! God help us!

Pentagon to spend billions to find how their money is spent!

The Defense Department, which has promised by 2017 to publish a reliable account of how it spends its money, has discovered that its financial ledgers are in worse shape than expected and that it will have to spend billions of dollars in the coming years to make its financial accounting credible, the Center for Public Integrity reports.

The U.S. military has spent more than $6 billion to develop and deploy new financial systems, but the effort has been plagued by significant added overruns and delays. The Government Accountability Office said the services can’t demonstrate that their funds are being spent as they should be.

Despite the difficulties in putting a new audit system in place, Secretary of Defense Leon Panetta, in opening remarks to the House Armed Services Committee, pledged Thursday to cut the implementation timeline in half “so that in 2014 we will have the ability to conduct a full budget audit.”

But the effort to speed accountability will itself be costly. Pentagon officials were already budgeting $300 million a year for new accounting systems and other preparations for 2017. The CPI reported that several officials estimated that meeting the earlier deadline could cause that spending to rise beyond a billion dollars over the next three years.

[Excerpt of article by NBC News Pentagon correspondent Jim Miklaszewski]

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