Economics
Pentagon Racks Up $35 Trillion in Accounting Changes in One Year
- Money is double or triple-counted as it moves between accounts
- Adjustments underscore weakness in Defense Department systems
Photographer: Saul Loeb/AFP via Getty Images
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The Pentagon made $35 trillion in accounting adjustments last year alone -- a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books.
The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a concerted way, according to Pentagon figures and a lawmaker who’s pursued the accounting morass.