Latest / The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending
Why the Pentagon Can't Pass an Audit After 30 Years
The Department of Defense has never passed a full financial audit, despite a legal mandate dating back to 1990. This episode drills into the $2–3 billion a year the Pentagon spends on audit readiness, the 3,000+ legacy IT systems that make its books a mess, and the real cost of a culture where most assets are simply unaccounted for. Lucas and Luna walk through the failed 2023 audit, the billions in undetected waste, and the dubious incentive structure that keeps the status quo intact. A conversation for anyone wondering how the U.S. military can lose track of hundreds of billions of dollars…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.