The Pentagon's $1 Trillion Problem
by Scot Paltrow May 2008 Issue
The defense department has spent billions to fix its antiquated financial systems. So why does the Pentagon still have no idea where its money goes?
Photoillustration by: Bartholomew Cooke
On a winter afternoon in Indianapolis, Jessica Hilligoss, a young Defense Department worker, types long strings of numbers and letters into a computer, helping the United States armed forces transfer the billions of dollars it draws each week from the Federal Reserve to contractors, vendors, and military and civilian personnel.
The defense department has spent billions to fix its antiquated financial systems. So why does the Pentagon still have no idea where its money goes?
Photoillustration by: Bartholomew CookeOn a winter afternoon in Indianapolis, Jessica Hilligoss, a young Defense Department worker, types long strings of numbers and letters into a computer, helping the United States armed forces transfer the billions of dollars it draws each week from the Federal Reserve to contractors, vendors, and military and civilian personnel.
The Pentagon's own auditors admit the military cannot account for 25 percent of what it spends. CBS News investigates how trillions of taxpayer dollars can ...
posted by Kangaroo Brisbane Australia at 2:55 PM
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