The Pentagon revealed on Tuesday that an overestimation in the value of weapons sent to Ukraine over the past two years has resulted in an extra $6.2 billion of U.S. taxpayers’ money earmarked for the Eastern European country. This figure is approximately double what was originally estimated and allegedly will be utilized for future security packages.
Pentagon spokesperson Sabrina Singh provided clarification on the nature of the error, explaining that the military services had used the replacement cost rather than the book value of equipment pulled from Pentagon stocks and sent to Ukraine.
According to Singh, the error was identified during a detailed review of the accounting process.
“We discovered inconsistencies in equipment valuation for Ukraine. In a significant number of cases, services used replacement costs rather than net book value, thereby overestimating the value of the equipment drawn down from U.S. stock and provided to Ukraine,” Singh said at a news briefing.
She further detailed the misvaluation was split over two fiscal years: $3.6 billion in the current fiscal year and $2.6 billion in the 2022 fiscal year, which ended last Sept. 30.
“Once we discovered this misvaluation, the comptroller reissued guidance on March 31 clarifying how to value equipment in line with the Financial Management Regulation and DoD policy to ensure we use the most accurate of accounting methods.”
“We have confirmed that for FY 23, the final calculation is $3.6 billion and for FY 22 it is 2.6 billion, for a combined total of $6.2 billion,” Singh said.
WATCH:
BREAKING: ‘Accounting error’ provides extra $6.2 BILLION for Ukraine, Pentagon says pic.twitter.com/75022IXg9k
— Breaking911 (@Breaking911) June 20, 2023
The outcome of a massive “accounting error,” has sparked debate among American taxpayers.
Laura Loomer wrote, “Really strange how this “accounting error” just so happens to be announced the same exact day as #HunterBiden’s plea deal. It’s like our Government isn’t even trying to hide their money laundering anymore… Looks like a bribery payoff to me if I’ve ever seen one.”
Graham Allen wrote, “Pentagon announces ‘accounting error’ provides extra $6.2 billion for Ukraine?!?! I AM NEVER PAYING TAXES AGAIN!!!”
Aaron Mate wrote, “Yet another “accounting error” frees up billions of more dollars for the Ukraine proxy war. How come these “errors” never free up any money for US health care or the un-housed?”
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