U.S. government can't account for $7.4 trillion spent in fiscal year 2024, GAO report reveals.
The U.S. Government Accountability Office (GAO) reports that the federal government cannot fully account for its spending, totaling $7.4 trillion in fiscal year 2024. The GAO identifies serious financial management issues at the Department of Defense, difficulties in tracking intragovernmental activities, and weak processes for preparing financial statements. The report emphasizes the need to address these deficiencies and an unsustainable fiscal path.
2 months ago
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