MSU Professor: $21T Missing in Fed Budget Going Back to 1998

Department of Treasury in Washington. (AP Photo / Evan Vucci, File)

December 4, 2017
OAN Newsroom

An economics professor at Michigan State University made a shocking discovery while reviewing the finances of the federal government.

Dr. Mark Skidmore claims he and a group of graduate students discovered $21 trillion missing in the federal budget going back to 1998.

In one instance, the team found an unauthorized transfer of $800 billion dollars from the Treasury Department to the U.S. Army.

The transfer is labeled as an “adjustment” and indicates it was to reconcile past years.

However, Skidmore says he finds it troubling since the report also shows multiple transfers of around $130 billion.

He says he tried to talk to those who created the report, but stopped when officials disabled the online links to view the documents.

“If trillions of dollars are flowing in and flowing out, it appears to be outside of our Constitution and outside of the rule of law,” said Skidmore. “If that’s the case, that really is troubling.”

The professor believes the missing funds could even be a national security issue.

He says it’s unacceptable, and is urging the American people to “stand up.”

Mark Skidmore is Professor and Morris Chair in State and Local Government Finance and Policy at Michigan State University. (Photo/ Michigan State University)

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  • Stan Lefler

    Perhaps we need to turn the budgets over to 2500 forensic accountants and have the federal government audited. Each accountant would get one page.

  • AP

    Straight from our taxes to war contractors, politician bribes and creating ISIS. It’s not left versus right anymore: It’s top versus the rest of us.

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  • BonnLass

    So does that mean wire transfer by air with Delta, American, or United? Wonder if Johnny Isackson’s Bill has a airline he doesn’t want coming or going?

  • Denise GK

    William Jefferson Clinton, 1993-2001
    George Walker Bush, 2001-2009
    Barack Hussein Obama, 2009-2017

  • Warpaint

    Audit the FED every department every nook and cranny

  • zakarac

    Come audit Alaska!! Gov. is a crook!!

  • unbelievable!

    He better get a body guard.

  • unbelievable!

    %^

  • ja ko

    Soros’s worldwide “generosity” and fake philanthropy has been supported by steady flow of funds from even more generous hand of US government.

  • Bruce Donaldson

    Is this one of those sites that publishes stuff to make you angry without any links or sources?

  • Letmesay

    It does not take a rocket scientist to figure out why all that money is missing. From 1993 to 2016 we have had thieves in the white house. The biggest ones the Clinton’s and the Obama’s with the fake Republican ONE WORLD ORDER Bush in the middle.

  • Disappointed

    This article should be front and center in every news outlet in the country.

  • Re

    I can make a couple easy guesses ware the money went..vacations. Retirement . Obama’s extra retirement fund you don’t become a millionaire twice over on President pay. His mother in law baby setting pay . His kids school fund .so many more rip off.

  • Larry H

    Read the CAFR. Compare changes over several years.
    Walter J. Burien, Jr. has been pushing this issue since around 1998.

  • DeJuan Chan

    Has anyone checked Ft. Knox out lately ?

  • DeJuan Chan

    Who is the Biggest Money/Power Hungry President/Family that we have ever had during this time period ?

  • DeJuan Chan

    Gee….who was President back in 1998 ?

  • randal varry

    he’ll end up dead

  • damien guarniere eaton

    Bitcoin

  • Gary Fitzsimmons

    You ignorant people blaming the Clintons or anyone else have no clue how hhqard it would be to hide just $1 trillion. That is about 2/3rds of what the entire country spends each year. If there is anywhere near that money being spent, it would go to the Pentagon and all their corporte honchos.

    • Pat S.

      I’ve never tried to hide a Trillion dollars. However if it’s not all at once it isn’t hard with the various govt. agencies with inflated budgets, (or charitable organizations), getting it a little (millions) here and there.

  • Norm Mullock

    DRAIN THE SWAMP.

    • Commander Balok

      Nuke it.

  • SLS

    I do seem to remember a report of a gigantic sum of money disappearing fromm the State Department during the reign of Hillary Pantsuist as Secretary of State. I do not remember the amount but do believe I was righteously outraged. Doe anyone remember the amount? Was anyone even questioned about this…the fine men & women of the press hardly took notice and quickly forgot…that it happened on Hillary’s watch.

    • RockyMt, CO

      I think it was $6B while Hillary was there and left. I wonder what the real debt and deficit is if these bureaucrats could find their fannies with both hands?. That is if they took their hands out of their pockets as they are putting our money in there for a day or two. .

  • Mike Watkins

    Ya nit wits it says it started in 1998

  • brandehhh

    Say what?…. Goodness

  • PainfulAccuracy

    The “adjustment” money never made it to the army or any legitimate entity. You think the Deep State is just Washington? It spreads like a cancer all over the globe. Only the Apex predators get the big money. I am surprised Trump is still in the presidency, considering he is literally fighting the devil’s minions. Absolute power does corrupt absolutely.

  • Mark Steiner

    Hey Mark! Nobody really cares. These universities are worthless. All they teach is liberal/progressive socialist anti-american crap.

  • Randy Mayer

    Wow Democrats can’t blame Trump for this mess interesting to hear how they will explain it

  • America First

    Whew! The Swamp is truly wide,deep,noxious and filthy rich…Can you say Bulging Swiss bank accounts…

  • …remain calm and return fire

    Your forgot freezers.

  • PRevere

    I certainly hope Dr. Skidmore and his team took screen captures of this fraud before the Government globalist, fifth column took the documents ‘off-line’. That shows guilt right there… No government employee should be able to keep our Nation’s public records from our sight – we are the boss.

  • Leonard Ross

    If Americans paid 5 trillion in taxes the Government Will say we Paid 2.1 Trillion. IT’S THAT EASY, CLINTON CORRUPTION… IT’S CALLED ” “COOKING THE BOOKS”. Thanks Clinton Dem. LIBS.

  • Roscoe

    Corrupt military commanders get a cut and of course the corrupt congress persons get a cut, and the people who supply the government get a cut and the RepubliCON and DemoRAT parties get a cut to distribute for reelection of establishment politicians. It is the slush fund that the establishment lives on.

  • conquest915

    Until we as voters collectively demand a complete adit of the federal government from top to bottom, this will continue.

    The government does not make one dime and has no money that is not belonging to the taxpayer and they have proven beyond a doubt they are poor stewards of our money.

    • Localdude

      The IRS audits at will and apparently for political reasons as well….this nightmare needs to stop. We need to demand full audits from the ‘FED’ as well. Complete and utter unaccountability from the government presently, its no wonder they ignore US citizenry. We have been dumbed down educationally and ‘PC speaked’ – into near submission. We have a president who might lead this fight. 15 years in a row they have audited this guy, 15 years no problems as I understand the situation.. This might be second term stuff, its a long uphill fight presently – but we can continue to demand accountability from the government – starting with busting their union maybe….this fight is on the way.

      • conquest915

        You are absolutely correct in your assessment. Any audit needs to be an outside audit sourced because as you have pointed out, the IRS is corrupt and just as guilty as all the other governmental departments and need auditing as well. But if we keep demanding this as a whole, maybe some of these new crop of politician, I feel are going to be elected, can do something to end this corruption.

  • Ezra Tank

    He’ll end up committing suicide by shooting himself three times in the back of the head like all the other Clinton victims.

    • s7rabin

      With a revolver made from 4 separate pieces.

  • Clint

    This is going to be fascinating … if anyone actually lives to reveal the truth.

  • Butthep

    No surprise. That is why they keep attacking President Trump.

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  • Johnny G.

    Interesting!! Will there be any follow up on this? Or will there be another cover up or a “death” to unbelievable circumstances?

    • conquest915

      Unfortunately, if you made that a multiple choice question, I believe the answer would be: No and ALL THE ABOVE!

  • Tom

    Interesting, but isn’t that about $1 trillion a year? It doesn’t seem possible, since total government revenue in 1998 was $1.8 trillion. How can around half of all revenue in 1998 go missing and not be noticed? Maybe it was only a third of all revenue that year. That still doesn’t seem possible.

    • Jean A.

      Unless as someone noted above, government could merely have lied about how much they collected in taxes and hid the rest.

  • tj hessmon

    There is one system of checks and balances in the American government which has always been missing. That is the system of independent financial verification. Many have called for an audit of the books, however since there exists no requirement in the constitution, there occurs an audit for validation of the finances approved in each annual budget. The question would be who would have the authority to audit and to whom would they report the audit results?
    The same issue holds true with the several sovereign states. There is no formal justification within any American government related to financial accounting.

    • grandmother5

      Remember the bank congress had? The politicians wrote checks that bounced. So, no, there’s not a check system in place.

  • MikkiDean

    Is this why Obama is in France grinning like a crazy man?

  • FoolIggy

    Always cause for concern when a RELIABLE American Citizen brings an issue, discrepancy, or potential wrong doing to the proper authority and gets shut out.

    You can take it to the BANK that these same culprits are involved in the ‘dark state’ of washington dc and are using the mis-appropriated funds for some clandestine, backwater, dark state agenda where they want the American Taxpayer to FOOT THE BILL but HAVE NO SAY it where the money is going.

    Clearly tells you America would NOT approve of the use of these funds and I am CONDFIDENT, based on the recent demoncrats in the white house & running around loose corrupting the FBI, CIA, DOJ, and other agencies, that the funds found their way into the clinton’s unscrupulous activities.

    TRANSPARENCY IN GOVERNMENT is the greatest assurance of honesty in government!

    DRAIN THE SWAMP, ELIMINATE THE SWAMP RATS, and make federal employee’s the servants of the taxpayer rather than SERVING THEMSELVES!

    • Pooh Bear

      Remember the dropping of pallets of $$$$$ into the Green Zone??? Some also missed the mark and ended up raining dollar bills into the streets of Baghdad?? It happened, and of course all things were paid for in dollars, and accounting was not our specialty. Paul whatshisname was bad at math.

  • landy fincannon

    September 10, 2001. Donad Rumsfeld announces 2.3 trillion missing from the pentagon.
    We all know what happened the next day.

  • landy fincannon

    What does 20 trillion even look like?

    Here’s an attempt to paint a picture.

    Twenty trillion amounts to 640.000 years of seconds

  • Varangian Guard

    What secret squirrel?

  • Pinocchio Smith

    Might as well start making funeral arrangements.

  • Dimitri Nicoliatan

    I worked for the Navy as a consultant at Navy HQ in Washington DC and found $110 million of this kind of fraud, then $216 million. I was fired for bringing it to the attention of various admirals, and finally congress. Congressmen did nothing. This was under the Obama and Bush terms.

    • Rich Remmy

      Indicates the depth of corruption at the highest levels.. truly disgusting.

    • Eva

      That is just shocking. The dems are showing us, teaching us WHO THEY REALLY ARE!

  • Pete Greco

    This and 911 were to mask over massive unreported crimes by the government elitists that were in power at the time. If we had a patriotic justice department at the time or even now, the people involved would have been investigated thoroughly and jailed for a long time. This just shows the justice department allegiances were and are not to America but to the criminals and the corrupt and to the anti-American globalists. This needs to change very quickly. There is no confidence or trust in our DOJ, AG nor the alphabet agencies any more. The Deep State/Shadow Government has to be taken down completely. Those who committed treason need to be incarcerated for a long time. Drain the Swamp. MAGA.

  • Kay McKinney

    I certainly hope Mr. Skidmore doesn’t suddenly die from some” sudden and mysterious” illness or accident….

  • Emzie Mcqueen

    1988, big dollars gone? National disaster?, infrastructure?, health care or social security?. Transportation. Or a acounting error that has been over look since 1988. Very serious accusations. Please check the numbers and recheck.

    • Jimmy Troutbum

      They did.
      The government is as corrupt as the democrat party
      Drain the swamp!
      Fire all of them

      • All American

        🇺🇸MAGA MASA

    • All American

      1998 Bill Clinton’s time

  • All American

    The raping of America back to the first Clinton in office. $21 T That’s our deficit!

  • Jimmy Troutbum

    Better watch your back Doc
    The military industrial complexe uses the same hit team as the Clinton’s

    • HaHaHa

      Military procurement is done by federal civilians. Not our folks in uniform.

  • Just A Guy

    I wouldn’t be shocked in the least. There’s a reason why every shyster on Capitol Hill is a millionaire.

    • All American

      Multi millionaires

      • Just A Guy

        Exactly!!

  • C B

    This is interesting . As you may know , this issue has been raised by a Liberal Entity ” MSU ” ; I’m suspicious of its validity . POTUS should see that it is properly looked at to see ……………………

    • Jimmy Troutbum

      MSU is NOT a liberal entity!!
      U of Michigan is as liberal as it gets.
      MSU teaches personal responsibility to its students.

      • C B

        Sorry Pal , MSU is a hotbed for Liberalism . Now Hillsdale College is a Real Conservative School if you’d like to compare the two ………..

        • usaok59

          True, but not EVERY person on campus is a liberal. Thank God this man has integrity.

          • C B

            I agree but it must be hell to be around that many liberals and try to get a decent education too …………

      • C B

        I’m sure there are a few kids at MSU that are Conservative’s too , but how can they get any direction from the Liberal Professors and Staff ????

    • All American

      Hopefully they will drill all the way down into this!!!

  • TwoElks

    Have you looked into the Clinton Foundation? How about Obama’s run for the Presidency ? Mega payoffs don’t come cheap. Obama may have pulled off the greatest hoax in the history of American politics. If so he had plenty of help doing it and it didn’t come cheap.

    • jbfurby

      Yeah, he pulled off the greatest hoax in the history of American politics. Only thing is, it had nothing to do with money. This will be the second greatest.

  • Weary Warrior

    And now his life is in danger.

  • …remain calm and return fire

    Did congress use it to pay off their sexual assault victims?

  • YGBSM

    Unbelievable!!! And they threaten to shut down the govt….go ahead….shut it down it…at least that way you can’t spend anymore…..21trillion??….that would go a long way to paying the national debt.

  • YGBSM

    Unbelievable!!! And they threaten to shut down the govt….go ahead….shut it down it…at least that way you can’t spend anymore…..21trillion??….that would go a long way to paying the national debt.

  • Mao’dreh Mal

    obama/clinton 4sure

  • JusticeVegas

    I’m surprised he is still alive after going public with this.

    • Sane_Person37

      I’d like to know what obama spent 18 trillion on because it sure wasn’t ‘America’.

      • kaiju

        Most of the huge “stimulus” spending during the Terrorist in Chief’s regime went to stimulate government union pension funds. These entitlement funds continue run amuck as gov. employees were promised ridiculously lucrative packages in retirement. Military personnel that have risked their lives in dangerous jobs fully deserve good benefits, but does a HUD or IRS worker? How about teachers that retire and travel the world on their overblown pensions?

        • grandmother5

          Not a regular teacher. Maybe the teachers of the politicians will get an overblown pension. Certainly not the regular teachers. I know many teachers and trust me they work hard their money every day. Also they pay for their supplies they use to teacher their kids.

        • brandehhh

          Hahahahaha what teachers have overblown pensions? Not any current day teacher. Underpaid and over worked just like everyone else. Except they care for our future and teach them

          • Norm Mullock

            Teachers do more whining than any other group of people. They care little about education.

          • brandehhh

            Actually teachers do a lot. But keep hating.

          • Lord Layton

            Indoctrinators

          • kaiju

            Sorry, I forgot we’re supposed to keep it quiet. See you in Tokyo, I’m off for skiing in the Alps!

          • Snotslinger

            If they were teaching the 3 basics I would agree mostly with what you say, but remember when B O plenty was running the first time and chidren were being taught umm umm barrack Obama he’s our man,, if it needs fixing he should can and many more subversion verses .

          • brandehhh

            But that’s like blaming Joe the IT guy for Trump’s directives for instance. There’s still good teachers out there, a few bad ones yes, but majority are definitely overworked and underpaid. Spending their own money to buy the kids supplies, staying hours late and coming early without pay to help the kids and do other necessary tasks. Someone tried saying teachers make 41k a year. Do people REALLY think anyone brings home what their base salary says they make???? No, no one does. They don’t bring home 41k, maybe 30k then add in all the extra expenses and out of pocket costs, then its more like 20k-25k. Whether they taught Bush’s directive, Obama’s directive, whose ever directive, they were still doing their jobs and caring for our kids.

        • Jammie

          Teachers are overpaid???? What rock did you just climb out from under????

  • 84Cheetah

    You can wager that some of it is in the Clintons’ pockets.

    • …remain calm and return fire

      stored in Hillary’s cankles..

      • Daren Rodriguez

        Guess who controlled the purse strings back then.. The dumblicans

        • …remain calm and return fire

          21 trillion ‘lost’, i think it’s safe to say no one was controlling the purse strings…

        • kaiju

          Looks like a whole lot of the Clinton’s money was coming from Muslims and Russians to me.

        • Susy Abbott

          January 20, 1993

          January 20, 2001 Bill Clinton Get educated! He’s a DEM.

          • Tom

            Wrong branch of government. The Congress controls the purse string. Democrats and Republicans have both controlled one or both houses of congress during that time.

        • maryol

          oh daren, aren’t you cute with your name-calling?

        • Reality check

          We know the Democrats are thieves.

        • Norm Mullock

          you’re clueless.

        • Letmesay

          Wrong…we now know George W. Bush is really a Democrat. 1993 to 2016 under the left control. Get educated. ..it’s not that difficult.

        • jaystop

          Who cares which party it was??? If true, this needs to be investigated, corrected and stopped. That’s why Trump was elected – by obliterate the swamp that is our capital.

        • Rob Barnhill

          Nevermind the fact that you’re wrong… this is not a partisan issue. This is a government corruption issue.

          • Lord Layton

            Is that the new PC term for ‘Democrat’?

          • Rob Barnhill

            No. Both parties are complicit.

        • Ralph – Msg Ret

          And there is/was a difference between the Democrats and the RINO’s??? Pray tell what is it!!!
          A lot of RINO’s are actually Democrats who ran on the Republican ticket to get elected….doubt it???….just check their voting records.

          • Lord Layton

            ‘Flake’ comes to mind right a way!

        • tlil

          Everybody’s dirty dummy. U still think of 2 party system? Research.

    • …remain calm and return fire

      stored in Hillary’s cankles..

    • Trough Master

      And the rest in Iran and big ear’s back pocket.

  • …remain calm and return fire

    Trumps stole the money and gave it to the Russians…..get Mueller on it!