The official US national debt stands at $17 trillion, but economist and national debt expert Laurence Kotlikoff says a better number is $222 trillion. He says the U.S. runs a Ponzi scheme that ignores the “fiscal gap” and excludes things like Social Security payments, healthcare and Medicare payments, and Medicaid payments. A whopping 40 percent of Americans could not come up with $2000 in the event of an emergency.
What should the government do in light of these facts? Well, according to Pentagon and congressional sources, the Pentagon plans to destroy more than a billion dollars worth of ammunition. Unfortunately, some of this ammo could be still viable; but exactly how much is unknown due to the fact that Defense Department inventory systems can’t share data effectively, according to a Governmental Accountability Office report.
The chairman of the Homeland Security and Governmental Affairs committee, Senator Tom Carper, said the following:
Advertisement – story continues below
There is a huge opportunity to save millions, if not billions of dollars if the (Pentagon) can make some common-sense improvements to how it manages ammunition.Despite years of effort, the Army, Navy and Air Force still don’t have an efficient process for doing something as basic as sharing excess bullets. This Government Accountability Office (GAO) report clearly shows that our military’s antiquated systems lead to millions of dollars in wasteful ammunition purchases.
According to the GAO report, only the Army uses the standard Pentagon format for date storage on ammo, while the Navy, Air Force, and Marine Corps operate with obsolete formats. The Defense Department has failed to build a unified ammunition database despite working for decades on the project. Meanwhile, the Defense Department continues with its great boondoggle, the F-35 jet, which has become the most expensive weapons system in history . The tab to taxpayers for the years it is expected to be flying is no longer $1 trillion, but instead $1.5 trillion. The plane is seven years behind schedule, with frequent malfunctions still occurring.
It should be noted that the U.S. military budget is the largest in the world, greater than the next eight countries on the list combined. What do you think? Should Americans keep shoveling pork the way the generals and DoD bureaucrats want? Or should Americans hold the Pentagon accountable for its inefficient and wasteful spending? The choice is yours. Feel free to comment below.