Tuesday, July 27, 2010
Gee whiz! How did that happen?
Between 2004 and 2007 during the reign of Bush/Cheney the Pentagon drew on $9.1 Billion of Iraqi oil funds. Now when asked to account for those funds,
The U.S. Defense Department is unable to properly account for over 95 percent of $9.1 billion in Iraqi oil money tapped by the U.S. for rebuilding the war ravaged nation, according to an audit released Tuesday.Now these were Iraqi funds held by the UN and earmarked for the benefit of Iraqis, but let's be real, no money is safe if there are Republicans in the neighborhood. And this audit does not include the $54 Billion in Congressionally approved Iraqi reconstruction funds. They can't account for a lot of that, too.
The report by the U.S. Special Investigator for Iraq Reconstruction offers a compelling look at continued laxness in how such funds were being spent in a country where people complain basic services like electricity and clean water are sharply lacking seven years after the U.S.-led invasion that toppled Saddam Hussein.
The audit found that shoddy record keeping by the Defense Department left the Pentagon unable to fully account for $8.7 billion it withdrew between 2004 and 2007 from a special fund set up by the U.N. Security Council. Of that amount, Pentagon "could not provide documentation to substantiate how it spent $2.6 billion."
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