The Pentagon Doesn’t Know Where Its Money Goes

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The military finally submits to an audit, and the results are poor.

  • The Editorial Board
  • The New York Times

After decades of ducking the legal requirement that it undergo a thorough financial audit, the Pentagon finally opened up its books to 1,200 outside accountants and analysts.

The report was recentlycompleted, and here’s the good news: The Army Corps of Engineers (most of it, anyway) and the Military Retirement Fund passed the audit.

The bad news: The Army, Navy, Air Force and Marines and most other divisions failed, which means they were unable to show that they…

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