Article

2023-05-19 Caucasus/Russia/Central Asia

Pentagon accounting error overvalued Ukraine weapons aid by $3 billion

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Posted by Enver Slager8035 2023-05-19 00:00|| || Front Page|| [14 views ] Top

#1 ....Oh, that money went somewhere.

Mike

Posted by Mike Kozlowski 2023-05-19 05:00|| 2023-05-19 05:00|| Front Page Top

#2 Poss to the F-16 buyer's aid fund.
A 'look ahead' budgeted allocation.

Posted by Skidmark 2023-05-19 09:41|| 2023-05-19 09:41|| Front Page Top

#3 Early markdowns for the Memorial Day Sales

Posted by Frank G 2023-05-19 10:04|| 2023-05-19 10:04|| Front Page Top

#4 Just when I think the unelected, unaccountable bureaucrats can't get any more moronic.

Posted by DarthVader 2023-05-19 10:28|| 2023-05-19 10:28|| Front Page Top

#5 As I said on Twitter, try that with your taxes.

Posted by mossomo 2023-05-19 13:03|| 2023-05-19 13:03|| Front Page Top

#6 Oh, that money went somewhere.

Yes, to the Pentagon's procurement budget. Therefore there is an incentive to value old, even obsolete, weapons with the value of new weapons.

What is the value of MRAPs? The cost when purchased was $700,000 - $1 million. The US couldn't give them away before the war? The Pentagon also won't be buying any new ones so there is no real replacement cost to attach to the old equipment.

In its accounting, the Pentagon used replacement cost to value the weapons aid, instead of the weaponry's value when it was purchased and depreciated, the senior defense officials said.

This is likely the fairest way to value the equipment. Like a business depreciating equipment. Even then, the Pentagon is transferring a lot of equipment that has been in storage for decades and would have been scrapped.

Posted by Enver Slager8035 2023-05-19 14:19|| 2023-05-19 14:19|| Front Page Top

#7 Ghanaian officials believe $3B IMF loan will ‘reset’ economy, ease hardship

Posted by Skidmark 2023-05-19 23:57|| 2023-05-19 23:57|| Front Page Top

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