THAT MISSING $21,000,000,000,000: DR. MARK SKIDMORE ON THE …


by Joseph P. Farrell, Giza Death Star:

You know things are in a bad state when an economics professor at one of the country’s most prestigious research universities, the University of Michigan, says that there’s about $21,000,000,000,000 missing, and when he says that in spite of his best efforts to find out where it went, he meets a stone wall of obfuscation, buck-passing, and missing links. The story has now captured the attention of Mr. Greg Hunter, well-known financial commentator at thanks to Mr. V.T. for spotting and sharing this article):

Missing $21 Trillion Means Federal Government Is Lawless – Dr. Mark Skidmore

What’s intriguing here is not only the wall of obfuscation that Dr. Skidmore was confronted with, but also the conclusions he drew from it:

In one example, Skidmore found a huge transfer from the Treasury Department to the Army that, again, was not authorized. Keep in mind, the Army has an approved budget of  a little more than $120 billion a year.  Skidmore says, “In this one report . . . there is an appendix table that indicates there was a transfer from Treasury to the Army of about $800 billion.  That’s almost a trillion dollars flowing in.  There is a note that says we had to do this in order to reconcile past years.  That doesn’t make sense to me either because, these earlier years, you have a transfer from the Treasury of your $120 billion or $130 billion, and every year, the Army is granted the authority to spend this money in the ways they say they will.  How can you get (an additional) $800 billion in and call that an ‘adjustment’? I tried to call and talk to the office of the Inspector General to talk to the people who helped generate these reports.  I haven’t been successful, and I stopped trying whenthey disabled the links.”

So there you have it: look too closely or too far, and they simply “shut down the links.” Never mind that it’s your tax money that’s at stake. Or is it? We’ll get back to that question in a moment.

One can imagine the consternation this would cause to an economist. Economists are like physicists: they like numbers, measurements, wave forms (cycles), and when energy…er… money, shows up either in excess or is drained from a circuit…er…system, without any good explanation of why it’s appearing or disappearing, the models go down the drain, and one is left scratching one’s head, peering at the equations on the blackboard, and wondering where the hidden variable is.

So the conclusion Dr. Skidmore, and Mr. Hunter, draw is a reasonable one: the government is operating far outside the budgetary parameters laid down in the Constitution:

You heard correctly. The government cut off inspection of their own financial accounting to the public. Skidmore says, “I have been able to talk to a few people.  I tried calling the Congressional Budget Office.  I talked with somebody at the GAO, and one or two people at the Office of the Inspector General, who were generating these reports. . . .It’s a big question in why don’t people want to look at this?  I am just a blue collar economist at Michigan State University, and I am saying this does not make sense to me.  Why don’t we look at this? . . . Some high ranking government official authorized the disabling of all the links to the key documents.  We know that.”

Dr. Skidmore thinks the federal accounting of $21 trillion in missing money is crazy and far outside the realm of normal. So, is this a legitimate U.S. national security issue?  Dr. Skidmore says, “Yeah, and that is one of the reasons I decided to look at this.  How can this be, and what does this mean?   If trillions of dollars are flowing in and flowing out, it appears to be outside of our Constitution and outside of the rule of law.  If that is the case, that really is troubling because it suggests that there is a layer of things happening that are outside the rule of law.  I know, for example, that some activities, just for the sake of protection of the people involved in national security, have to be black budget.  There is always stuff like that.  Usually, it’s authorized spending, and some percentage is this black budget where only a small percentage of people and some in Congress know about it, but this is way outside of that.  So, I am worried about it.” (Italicized emphasis added.)

Notably, Dr. Skidmore draws a similar conclusion that I and others have drawn when looking at this phenomenon of “missing money,” namely, that we’re looking at a component of the black budget.

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