Wednesday, August 31, 2011

Waste And Fraud In War Spending Approaching $60 Billion

Taliban fighters hold their weapons at a secret base in eastern Afghanistan. The insurgents second biggest funding source is U.S. taxpayers money

America Has Wasted $60bn In Decade Of Fighting In Afghanistan And Iraq Through Poor Planning And Fraud -- Daily Mail

As much as $60billion in U.S. funds has been lost to waste and fraud in the past decade of fighting in Iraq and Afghanistan, it has been claimed.

The billions have been lost through lax oversight of contractors, poor planning and payoffs to warlords and insurgents, according to a panel set up by the U.S. government.

Damningly, it found that the Afghan insurgency's second biggest funding source after the trade in heroin is the diversion of money from U.S. backed projects and contracts.

The news comes at the end of the deadliest month yet for U.S. forces in Afghanistan, with 66 servicemen killed, according to an Associated Press tally.

Read more ....

More News On Waste And Fraud In The Iraq/Afghan Wars

Panel: Widespread waste and fraud in war spending -- AP
Pentagon under fire over war contracts -- AFP
Independent panel says as much as $60 billion lost to waste and fraud in Iraq and Afghanistan -- Washington Post
Up to $60B in War Funds Said Wasted -- Time/AP
US has wasted $30bn on Iraq and Afghanistan contracts, report finds -- The Guardian
US 'wasted $30bn on Afghanistan and Iraq' over decade -- BBC
$60B wasted in Iraq, Afghanistan? -- Politico
U.S. Is Urged to Bar Wasteful War Contractors by Congressional Commission -- Bloomberg
Report: US Wasted $30 Bln. In Iraq, Afghanistan War Contracts -- RTT News
Panel: $60B was lost in Iraq, Afghanistan -- Detroit Free Press
$30 bln of US war money gone to crooks and wasters -- RT News
Commission details war-time waste ahead of report to Congress -- Stars and Stripes
Committee Finds $30B in U.S. War Contract Spending Wasted -- ExecutiveGov
Reducing waste in wartime contracts -- Christopher Shays and Michael Thibault, Washington Post

My Comment: Only $60 billion?

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