Waste Deep in the Big Muddy
Apr 14 2008
The Pentagon's $1 Trillion Problem
1958
Data is first entered into the Mechanization of Contract Administration Services system, which is still used to track and pay invoices from weapons contractors.
1985
The U.S. Navy discloses that it was equipping some aircraft with $640 toilet seats purchased from Lockheed.
1990
Congress requires the Defense Department to undergo comprehensive annual audits.
1991
Defense Secretary Dick Cheney creates the Defense Finance and Accounting Service in an attempt to consolidate military bookkeeping systems.
1993
Cheney's financial-reform effort peters out when the Clinton administration replaces political appointees at the Pentagon.
2000
A Pentagon inspector general finds $2.3 trillion in unsupported accounting entries on the Defense Department's books.
2001
Defense Secretary Donald Rumsfeld declares that financial reform at the Pentagon is essential to national security.
2002
Congress indefinitely suspends the requirement for annual audits of the Defense Department.
2005
The Pentagon launches a new effort to modernize its financial systems.
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