Monday, May 26, 2008

A Bilion Here, A Billion There

Yeah, a billion here and a billion there, and soon you are talking "real" money! Here's a Washington Post story of the fraud of the Bush admin in losing $15 billion in Iraq...

The inspector general for the Defense Department said yesterday that the Pentagon cannot account for almost $15 billion worth of goods and services ranging from trucks, bottled water and mattresses to rocket-propelled grenades and machine guns that were bought from contractors in the Iraq reconstruction effort.

The Pentagon did not have the proper documentation, including receipts, vouchers, signatures, invoices or other paperwork, for $7.8 billion that American and Iraqi contractors were paid for phones, folders, paint, blankets, Nissan trucks, laundry services and other items, according to a 69-page audit released to the House Committee on Oversight and Government Reform.

An earlier audit by the inspector general found deficiencies in accounting for $5.2 billion of U.S. payments to buy weapons, trucks, generators and other equipment for Iraq's security forces. In addition, the Defense Department spent $1.8 billion of seized Iraqi assets with "absolutely no accountability," according to Rep. Henry A. Waxman (D-Calif.), who chairs the oversight committee. The Pentagon also kept poor records on $135 million that it paid to its partners in the multinational military force in Iraq, auditors said.

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