That Time The Military Let $2.3 Trillion Go "Missing" - How Money Works | How Money Works
How Money Works
Unraveling the Mystery of Missing Military Funds
This chapter investigates the baffling disappearance of $2.3 trillion from military accounts, suggesting that it stems from inadequate accounting rather than illicit activities. It highlights the struggles of military accountants dealing with outdated practices and the complexities of interdepartmental communication.
That Time The Military Let $2.3 Trillion Go "Missing" - How Money Works
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In 2001 defence secretary Donald Rumsfeld announced that the department of defence had lost more than 2.3 trillion dollars.
At this time the entire federal budget was only 1.8 trillion dollars which meant that the military had basically just oopsied away more than a years’ worth of the governments entire bankroll.
The public was furious to say the least, and rumours quickly started circling about where this money ended up.
Fortunately for Rumsfeld and the entire militaries senior brass the public announcement of the missing money was made on a very opportune day, September 10th.
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Edited By: Andrew Gonzales
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