Audit of Defense Department finds expensive choppers and building that were off the books

Zero Hedge:
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And in a preview of what is to come, Norquist told the House Armed Services Committee that an initial Army audit found 39 UH-60 Black Hawk helicopter ($830,700,000) were not adequately recorded in the property system. "The Air Force identified 478 structures and buildings at 12 installations that were not in its real property system,” he added. In other words these helicopters were simply "missing" on the books.

Alas, the mismanagement within the DoD doesn’t stop there: in a recent report, the U.S. military lost some 44,000 troops across the globe in a country location labeled as “Unknown.”

Going even deeper into the rabbit hole, Mark Skidmore, a Professor of Economics at MSU specializing in public finance, found the Department of Defense and Housing & Urban Development may have spent as much as $21 trillion on mysterious items between 1998 and 2015.

“This is incomplete, but we have found $21 trillion in adjustments over that period. The biggest chunk is for the Army. We were able to find 13 of the 17 years and we found about $11.5 trillion just for the Army,” Skidmore said.
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There are 1,200 auditors working on the project.  It is not clear if any of the assets were actually missing or just never properly recorded.  When the audit is complete it should help the military manage their assets better and be able to better move their equipment to where it is needed.

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