With $8.5 Trillion Unaccounted for, Why Should Congress Increase the Defense Budget?

By Jacqueline Leo and Brianna Ehley, The Fiscal Times

The U.S. military is good at fighting wars, but it sucks at managing money. Partly because of its convoluted bookkeeping systems, $8.5 trillion—yes, trillion—taxpayer dollars doled out by Congress since 1996 has never been accounted for.

That was also the first year that Congress passed a law requiring the Defense Department to be audited, which it has failed to do. In 2009, Congress passed another law requiring the DOD to be audit-ready by 2017. After spending—no wasting—billions on failed accounting software, the department is likely to miss that deadline, too.