War Industry’s Accountants Can’t Count
The war profiteers’ shady lobbying campaign took another hit to its credibility today, as an accounting firm on which they relied to support their bogus “military spending = jobs” argument was cited for severe audit deficiencies.
As our new War Costs short video shows, the war industry’s Second To None lobbying effort specifically cited numbers from Deloitte & Touche to claim an inflated importance of the military industrial sector to the U.S. economy. This claim was part of their larger effort, thoroughly debunked by our prior work, to try to convince Congress to protect their gravy train from budget cuts by tying war spending to job creation. Their entire narrative is false–military spending actually costs jobs compared to other ways of spending the money.
Why war profiteers would even bother to cite Deloitte is frankly beyond us. According to Reuters:
“Earlier this year, the [Public Company Accounting Oversight Board] released a separate report from 2007 inspections that documented deficiencies with Deloitte’s own internal procedures for how it conducts audits.
“Those findings have prompted a U.S. Senate panel to launch a probe into the auditing standards at Deloitte, which conducts some auditing work for the U.S. government, including the Federal Reserve.”
It’s obvious from the industry’s behavior, including citation of Deloitte numbers to support their bogus claims, that they are not used to having their outlandish claims scrutinized.
War Costs will make sure those accountability-free days for the war industry are over.
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