Wednesday, June 21, 2023

Pentagon's Accounting Error Helps Ukraine



This is the kind of "accounting error" at the Pentagon that we're OK with:

"The Pentagon said Tuesday that it overestimated the value of the weapons it has sent to Ukraine by $6.2 billion over the past two years — about double early estimates — resulting in a surplus that will be used for future security packages.

Pentagon spokeswoman Sabrina Singh said a detailed review of the accounting error found that the military services used replacement costs rather than the book value of equipment that was pulled from Pentagon stocks and sent to Ukraine. She said final calculations show there was an error of $3.6 billion in the current fiscal year and $2.6 billion in the 2022 fiscal year, which ended last Sept. 30.

As a result, the department now has additional money in its coffers to use to support Ukraine as it pursues its counteroffensive against Russia. And it come as the fiscal year is wrapping up and congressional funding was beginning to dwindle."  (our emphasis)

Using replacement costs rather than the book value is quite a margin of error, but a happy one for the freedom fighters in Ukraine. We'd like to get that kind of deal on an automobile trade in. Now watch the Putin caucus in the House demand the error be applied to reducing next year's Ukraine support budget.

In addition to replacing their depleted defensive weapons stocks, how about providing some long-range ATACMS rocket artillery, more M1A1 battle tanks and even F-16s with the funds? And be sure to use their book value in accounting.

(image: stock photo)

 

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