$21 Trillion Missing?

[Ozarks Tom]

Ran across this article linked from the Woodpile Report about a college economics professor who looked into the government's spending vs income, along with some expenditures that only show up in one inconspicuous place, and thinks there's $21 Trillion in "off the books" spending over a fairly short period of time.

I put this in the Conspiracy forum because I find it hard to believe that much money could have entered the economy without hyper-inflation kicking in.  I've no doubt the government spends a lot of money we'll never know about, but this much?

Michigan State University economics professor Mark Skidmore made an astounding discovery about the finances and budgets of the U.S. federal government earlier this year. He and a team of graduate students discovered $21 trillion missing in the federal budget going back to 1998. Dr. Skidmore, who specializes in public finance, explains, “We know from official government sources that indicate $21 trillion is, in some way, unaccounted for. Furthermore, if we come back to the Constitution, all spending needs to be authorized by Congress. It looks to me, and I think I can conclude with a high degree of certainty, there is money flowing in, as well as out, that is unaccounted for. . . . That’s the one thing we know from these documents, that there is $21 trillion in unaccounted funds.”
usawatchdog.com/missing-21-trillion-means-federal-government-is-lawless-dr-mark-skidmore/

[joebill]

I'm pretty sure we have no way of knowing how much they "create", since they no longer have to print it for it to exist, and if it just gets created, then goes in somebody's pocket, how would that create inflation? Wouldn't they have to spend it on something to create inflation?

Might possibly be relatively easy for somebody to be the richest man in the world as long as he told NOBODY, invested it under a bunch of different labels, etc.

Of course, anything over 6 decimal points is meaningless to me, so I dunno much.....Joe

[7thswan]

Maybe it didn't enter our economy. Obama could have given it away to his buds,the muzzies.

[Ozarks Tom]

I'm reasonably familiar with standard accounting, and understand what a journal entry does, and how it's entered in a statement. Basically, a journal entry is to balance income & expenses. It appears the journal entries referred to in the article don't have corresponding expenses notated to justify the income adjustment.

If a business did their accounting in this manner, someone would be prosecuted and put out of business. We're being treated like mushrooms, kept in the dark and fed BS.

[joebill]

REALLY hard to dispell that image of some guy on a middle rung of the ladder just holding down which ever key on his computer that is used to increase the money supply during lunch, then sending it all out to various places during mid afternoon break.

Of course my ignorance of how things really work bolsters that image, but I am not a bit sure that we even know how much our money supply is. How could we? We know that an unknown quantity is destroyed accidentally each year and that there are a lot of GOOD counterfiets out there. It is my understanding that the norks are in that business heavily.

Stood on a catwalk in DC in 1964 and watched them printing and cutting the bills, and never dreamed it could get this far out of control......Joe

[Ozarks Tom]

Many years ago my CPA was auditing my business year end books. He came up about $9,000 off from balance. I had a fairly new bookkeeper, probably not the brightest bulb on the tree, so I wasn't terribly surprised when we had some entries wrong. The CPA, who I came to hate, asked if I wanted him to just do a journal entry to balance out. I told him heck no, if it cost me another 8 hours of his time I didn't care, I wanted the books right. It took him a couple hours, but he found where some materials that went straight to a jobsite were shown as inventory in error.

In honest accounting, everything on one side of the ledger has to have a corresponding figure(s) on the other side. Without that, there's no reason to even keep books.

In the alleged "misplacement" of $21 trillion, it's either laziness, incompetence, fraud, or all the preceding. In other words, government business as usual.

[paisley]

Gee the IRS using my paper tax form (I had my copy) added zero to my income......well that zero multiplex my income 10time the reality. Took years to straighted out. They demanded I pay the difference.I was about to buy a home so I did and I filed the secret form demanding interest on my money if I was correct and they messed up I won. They lost they refunded me and chided me about complaining about collecting interest on the funds they forced out of me. I got it though!!!!

[joebill]

Yeah, I always look forward to being chided by the party who screwed the whole thing up in the first place.....makes it all just perfect......Joe

[blackfeather]

I read an article that the recent wars we have been in have cost far more than what was reported. If you notice the Pentagon is where much of this 21 trillion went missing in. Secondly I was reading Rob Kirby saying that there are pools of what are called dark money, money not counted on M1 or M2 reports. These pools are what keep treasury bond prices propped up. The main concern of all this is that this money is being spent without congressional over sight. Thus it is beyond the law. The report you speak of is found on solari.com/blog/ Catherin Austin Fitts who runs the site has called the United States Government a criminal enterprise even before this report was made known. Both Kirby and Fitts have had recent interviews with Greg Hunter on usawatchdog.com which is where I have heard of these things.

[sawmilljim]

You don't think the numbskulls could disappear a few trillion .
You Spent $20,000,000 On Firewood?" Jason Chaffetz Infuriated With The DoD

How about a report that never was ?
You Spent $9,000,000 On A Report That Doesn't Exist" Jason Chaffetz Crushes DoD Twerp


Or a few trillion here and where?
$9,000,000,000,000 MISSING From The Federal Reserve