In fiscal 2000, the Department of Defense was “missing” a further $1.1 trillion.
From 1997 to March 2001, the Under Secretary of Defense (Comptroller) who served as the chief financial officer for the Department of Defense was William J. Lynn III. He was the person responsible to make sure no money went missing.
This is the same fellow, William J. Lynn III, that just days ago President Elect Obama nominated as the Deputy Secretary of Defense! The press release said, “Lynn brings decades of experience and expertise in reforming government spending and making the tough choices necessary to ensure that American tax dollars are spent wisely.”