Home United States USA — mix $3 billion accounting error means Pentagon can send more weapons to Ukraine

$3 billion accounting error means Pentagon can send more weapons to Ukraine

89
0
SHARE

The acknowledgment comes at a time when the Pentagon is under increased pressure by Congress to show accountability for the billions of dollars it has sent to Ukraine.
The Pentagon has overestimated the value of the weapons it has sent to Ukraine by at least $3 billion – an accounting error that could be a boon for the war effort because it will allow the Defense Department to send more weapons now without asking Congress for more money.
The acknowledgment Thursday comes at a time when the Pentagon is under increased pressure by Congress to show accountability for the billions of dollars it has sent in weapons, ammunition and equipment to Ukraine and as some lawmakers question whether that level of support should continue.
It also could free up more money for critical weapons as Ukraine is on the verge of a much anticipated counteroffensive – which will require as much military aid as they can get. Ukrainian President Volodymyr Zelensky has previously said the offensive was delayed because they did not yet have everything they needed.
The error was caused when officials overvalued some of the systems sent to Ukraine, using the value of money it would cost to replace an item completely rather than the current value of the weapon. In many of the military aid packages, the Pentagon has opted to draw from its stockpiles of older, existing gear because it can get those items to Ukraine faster.
“During our regular oversight process of presidential drawdown packages, the Department discovered inconsistencies in equipment valuation for Ukraine. In some cases, ‘replacement cost’ rather than ‘net book value’ was used, therefore overestimating the value of the equipment drawn down from U.

Continue reading...