Connect with us

Subscribe To Breaking News Alerts Mailing List. Enter Your Email Address to Receive a FREE GIFT!

Breaking News

House Oversight Committee Starts Investigation Into Pentagon Following Fifth Failed Audit

Published

on

Aerial of the Pentagon, the Department of Defense headquarters in Arlington | The Pentagon Doubles Number of US Troops in Taiwan Under Biden | featured

As a result of the Pentagon failing an audit for the fifth time and being unable to account for 61% of its $3.5 trillion in assets, the House Oversight Committee announced Monday that it was opening an investigation into the organization.

In a statement, Chairman of the Committee on Oversight and Accountability James Comer (R-KY) and Chairman of the Subcommittee on Government Operations and the Federal Workers Pete Sessions (R-TX) said they are looking into the Department of Defense for its “failure to prevent waste, fraud, and abuse after the department failed its fifth consecutive audit in November.”

The joint statement reads:

The Committee on Oversight and Accountability is investigating the Department of Defense’s (DOD) failure to prevent waste, fraud, and abuse. In November 2022, DOD failed its fifth consecutive audit, unable to account for sixty-one percent of its $3.5 trillion in assets. The U.S. Government Accountability Office (GAO) also recently reported that DOD continues to fail to accurately account for hundreds of billions of dollars of government-furnished property in the hands of contractors.

DOD’s inability to adequately track assets risks our military readiness and represents a flagrant disregard for taxpayer funds, even as it receives nearly a trillion dollars annually.

Sign Up For The Gun Carrier Newsletter

On March 7, GAO released a report that said “DOD’s financial management and contractor management have consistently been included in GAO’s High-Risk List.”

With this, Comer and Sessions also stated:

DOD’s lax financial management and inability to adequately track weapons, equipment and other defense articles have raised serious concerns about DOD’s stewardship of taxpayer dollars, especially as DOD’s budget approaches thirteen figures. Failure to address these issues has limited DOD’s ability to produce auditable financial statements which would enable adequate oversight of DOD’s financial management practices.

Last year, a Democrat-controlled Congress voted to award the DOD $858 billion for fiscal year 2023. Republicans have increased their monitoring of the Biden administration and are attempting to rein in excessive spending now that they are in control of the House.

Additionally, the probe takes place at a time when the DOD is supplying Ukraine with military hardware worth billions of dollars. At least $32 billion in military aid has already been committed by the DOD, much of it coming from their own stocks.

Last year, Ukraine received more than $113 billion in funding from Congress. Republicans have also committed to tighter control over such funding.

Up Next:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

SIGN UP FOR BNA NEWSLETTERS

YOUR EXISTING AD GOES HERE
Patriot Planet Tshirt Ad

Copyright © 2022 Breaking News Alerts. This copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.

Is THE newsletter for…

U.S. CITIZENS CONSERVATIVES TRUE AMERICANS

Stay informed on the latest news developments, breaking stories, and expert analysis from the world of politics. Our kick-ass interviews, podcasts cover a wide range of topics, including discussions on policy, campaigns, and elections are delivered to your inbox 100% FREE!

bottom-logos.jpg

STAY UPDATED WITH BREAKING NEWS ALERTS

Subscribe below and get exclusive content from our top sources. Also, you'll get a FREE gift as a new subscriber.