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Arms and accounting

Filed in archive Accounting by leon on November 2, 2006

Arms and accounting
With the cost of the war in Iraq now at $2 trillion, and climbing, according to estimates from researchers including Nobel Laureate Joseph Stiglitz, it's alarming to read news reports of a US Government finding that the US military has no system for accounting the hundreds of thousands of weapons bought to arm the Iraqi security forces.

Rocket-propelled grenade launchers, semi-automatic pistols and Heavy Machine Gunslinks are missing. The military even failed to register serial numbers. One can only imagine where some of these weapons have gone to. And the money just keeps pouring in!

For more details, check the Special Inspector General for Iraq Reconstruction homepage. Yes, the reports try to put a positive spin on it but it's not hard to get an idea of how bad things really are.

Indeed, the entire Iraq reconstruction program is bogged down in corruption and wasted billions, according to books and reports.

Part of the problem is that the Pentagon has shown itself to be absolutely useless when it comes to tracking its numbers and keeping a lid on its costs, something I have explored in this blog entry. Not much accountability there.

And the question is whether accountability will reshape American politics next week.






Permalink: Arms and accounting
Tags: Iraq  reconstruction  arms  accounting  arms  corporate  business  arms+accounting  hedge+funds  kinkaa+corpo 

Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/41276

Related Entries:

Easy exercise for beautiful arms - 19 July 2006

Iraq watchdog lives again - 15 November 2006

Brothers In Arms To Hit Wii - 03 September 2007

Iraqi accounting system mismanaged - 26 October 2007





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