The National Debt Is 'Unsustainable' and the Pentagon's Finances Are a Total Mess, Federal Audit Says

The federal government's books are in such bad shape that auditors can't even do their jobs, and the national debt is growing at an "unsustainable" rate, the Government Accountability Office (GAO) warned in its annual comprehensive review of the government's financial statements.

The GAO singled out the Pentagon—as it has every year since 1990, when federal auditors first started trying to peer into the black hole of military spending—for "serious financial management problems." That includes more than 1,300 new issues raised during this year's incomplete audit of the Defense Department....