One of Secretary of Housing and Urban Development Secretary Ben Carson’s first actions in his new position was to audit his own organization under former President Barack Obama — and what he found is shocking.
Carson discovered over $500 billion in accounting mistakes of an administration that was notorious for accusations of fraud within the HUD.
It’s proof that the D.C. swamp MUST be drained — and soon.
One of the auditors wrote in the Inspector General’s report , “The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively.”
But the massive losses weren’t the only issues within Obama’s corrupt HUD, of course.
In fact, there were numerous (and serious) errors in bookkeeping and management running rampant throughout the government organization.
According to the Inspector General’s report, there were five other, major issues with the department:
(1) The Office of General Counsel’s refusal to sign the management representation letter
(2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds
(3) The $4.2 billion in non pooled loan assets from Ginnie Mae’s stand-alone financial statements that we could not audit due to inadequate support
(4) The improper accounting for certain HUD assets and liabilities, and
(5) Material differences between HUD’s subledger and general ledger accounts.
The report makes it clear the the Obama administration was mindlessly throwing away government money, and doing nothing to reverse the damage and improve the HUD so it could function efficiently.
Now that Carson has uncovered the dark truth, the fate of the organization is in his gifted hands.
— The Horn editorial team