Current Events > Dept of Housing & Urban Planning made ~$520 billion in mistakes under Obama

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Logos
04/10/17 10:40:49 PM
#1:


http://www.foxnews.com/politics/2017/04/10/watchdog-calls-out-hud-for-500b-plus-in-accounting-errors.html
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Logos
04/10/17 10:48:30 PM
#2:


@Antifar
@hockeybub89

Maybe if we give them more money and more power, they'll get their shit together?
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Iodine
04/10/17 10:48:45 PM
#3:


Interesting.
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#4
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Gojak_v3
04/10/17 10:49:05 PM
#5:


What's half a trillion for progress?
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Logos
04/10/17 10:49:25 PM
#6:


M_Live posted...
Logos posted...
http://www.foxnews


Are you saying they're making it up?
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jenningsnash313
04/10/17 10:49:35 PM
#7:


Lol Fox News.
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Iodine
04/10/17 10:50:18 PM
#8:


Guys the source is legit. This is the site that Fox News referenced:

https://www.hudoig.gov/sites/default/files/documents/2017-FO-0005.pdf
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Logos
04/10/17 10:51:17 PM
#10:


Iodine posted...
Guys the source is legit. This is the site that Fox News referenced:

https://www.hudoig.gov/sites/default/files/documents/2017-FO-0005.pdf


You should've waited longer to see which other CEmen are complete clowns. I bet VipaGTS and CruelBuffalo would've come in here laughing at Fox News without actually reading it.
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emblem boy
04/10/17 10:51:33 PM
#11:


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Gojak_v3
04/10/17 10:51:42 PM
#12:


https://www.hudoig.gov/sites/default/files/documents/2017-FO-0005.pdf

Here is the report so all you trolls can't try to deflect, "lol fox news"
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Iodine
04/10/17 10:54:44 PM
#13:


emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

Woa this is really interesting.
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#14
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Tmaster148
04/10/17 10:56:15 PM
#15:


emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/


From what I gathered, $520 billion is the added total of the absolute value of all mistakes. Meaning that it be as large as losing out of $520 billion to gaining $520 billion. Or even that all the mistakes cancelled each other out for a total of $0 lost.
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emblem boy
04/10/17 10:59:10 PM
#16:


From that same reddit link,
"
It's a little vague. If you do a search through the document for the value "$516.4 billion" it appears only a few times and interestingly with this context

reported correctly by FHA. In total, the absolute values of corrections to HUD’s notes and principle financial statements were approximately $516.4 billion and $3.4 billion, respectively.

So what does that mean, "absolute value?" It means no matter if it is a positive or negative number you treat both as a positive number. |-5| = 5

Example: if you mis-categorized something as $5 in popsicles and it should have been $5 in lollipops then you have to subtract $5 from one and add $5 to the other. The absolute value of the corrections there is now $10. OMG! Double the outrage! (ignoring that the resultant change with these corrections is $0)

So do they detail what the adjustments are? No. Do they say they are confident of the numbers? No and the statement was that that there was too much information to delve into it in time. But here's the telling part. There are 122 pages of attachments and when you get into them you find this quote

â€Overall, the combined adjustments to the consolidated financial statements resulted in a net adjustment of $3 million, but no changes in HUD’s financial position or impact to our programs.â€

"
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Logos
04/10/17 11:00:15 PM
#17:


@emblem_boy

are you really looking to repost reddit comments? someone could just copy and paste the response to that. that doesn't change the fact that this is a massive issue.
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emblem boy
04/10/17 11:01:22 PM
#18:


Logos posted...
@emblem_boy

are you really looking to repost reddit comments? someone could just copy and paste the response to that. that doesn't change the fact that this is a massive issue.


It is an issue, I'm not disagreeing with that. Just pointing out other information
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Iodine
04/10/17 11:02:25 PM
#19:


Logos posted...
@emblem_boy

are you really looking to repost reddit comments? someone could just copy and paste the response to that. that doesn't change the fact that this is a massive issue.

Well this part:

“Overall, the combined adjustments to the consolidated financial statements resulted in a net adjustment of $3 million, but no changes in HUD’s financial position or impact to our programs.”

Is straight from the .gov site that was linked to earlier.
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Complete_Idi0t
04/10/17 11:03:03 PM
#20:


Good thing no mistakes will be made under the watchful eye of Ben Carson
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3rd_Best_Master
04/10/17 11:07:01 PM
#21:


emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?
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SK8T3R215
04/10/17 11:08:15 PM
#22:


The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively. There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. These unresolved audit matters relate to (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 nonpooled 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. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.

That's pretty bad for an audit.
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Logos
04/10/17 11:08:20 PM
#23:


3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


The point was that it's funny how people think giving the government more money is a good idea / the solution to every problem. The government is utterly incompetent at managing money. It's a train wreck. I'm reminded of when the Bush administration had a similar situation where the Pentagon had a 1 Trillion dollar accounting mess due to military spending.
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Crazyman93
04/10/17 11:08:45 PM
#24:


Logos posted...
Maybe if we give them more money and more power, they'll get their shit together?

I mean, that's how liberals tried to fix health care. And how they handle gun control.
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Logos
04/10/17 11:08:49 PM
#25:


SK8T3R215 posted...
The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively. There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. These unresolved audit matters relate to (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 nonpooled 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. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.

That's pretty bad for an audit.


Let's give them more money! Increase taxes to solve the problem!
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3rd_Best_Master
04/10/17 11:10:46 PM
#26:


Logos posted...
3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


The point was that it's funny how people think giving the government more money is a good idea / the solution to every problem. The government is utterly incompetent at managing money. It's a train wreck. I'm reminded of when the Bush administration had a similar situation where the Pentagon had a 1 Trillion dollar accounting mess due to military spending.

What does this have to do with giving them more taxes? Would them having less somehow have prevented this from happening?
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foreveraIone
04/10/17 11:10:52 PM
#27:


Logos posted...
the solution to every problem

I don't think people actually think this. They pick and choose where they think government is useful. Nobody liked the bank bailouts. Left or right.
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Logos
04/10/17 11:11:07 PM
#28:


3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


The point was that it's funny how people think giving the government more money is a good idea / the solution to every problem. The government is utterly incompetent at managing money. It's a train wreck. I'm reminded of when the Bush administration had a similar situation where the Pentagon had a 1 Trillion dollar accounting mess due to military spending.

What does this have to do with giving them more taxes? Would them having less somehow have prevented this from happening?


Shhhh, just raise taxes and give them more. That's all.
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Logos
04/10/17 11:11:54 PM
#29:


foreveraIone posted...
Logos posted...
the solution to every problem

I don't think people actually think this. They pick and choose where they think government is useful. Nobody liked the bank bailouts. Left or right.


The irony of the entire thing is that it's the banks that own the government and that profit from treating people like tax cattle. And the left plays right into it by expanding government reach and vying for more taxation for all kinds of useless programs.
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3rd_Best_Master
04/10/17 11:12:10 PM
#30:


Logos posted...
3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


The point was that it's funny how people think giving the government more money is a good idea / the solution to every problem. The government is utterly incompetent at managing money. It's a train wreck. I'm reminded of when the Bush administration had a similar situation where the Pentagon had a 1 Trillion dollar accounting mess due to military spending.

What does this have to do with giving them more taxes? Would them having less somehow have prevented this from happening?


Shhhh, just raise taxes and give them more. That's all.

Do you find that this is a hard question for you to answer?
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Gojak_v3
04/10/17 11:12:33 PM
#31:


foreveraIone posted...
Logos posted...
the solution to every problem

I don't think people actually think this. They pick and choose where they think government is useful. Nobody liked the bank bailouts. Left or right.


You'd be surprised. A lot of these people have absolute blind trust in the government based on what they believe in, what they want, etc.
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Logos
04/10/17 11:12:46 PM
#32:


3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


The point was that it's funny how people think giving the government more money is a good idea / the solution to every problem. The government is utterly incompetent at managing money. It's a train wreck. I'm reminded of when the Bush administration had a similar situation where the Pentagon had a 1 Trillion dollar accounting mess due to military spending.

What does this have to do with giving them more taxes? Would them having less somehow have prevented this from happening?


Shhhh, just raise taxes and give them more. That's all.

Do you find that this is a hard question for you to answer?


Government is incompetent. They need to be starved for cash until they prove they know what they're doing with it.
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Tmaster148
04/10/17 11:14:05 PM
#33:


3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


He's basically an AnCap with how every topic of his turns into how the government is bad and we should get rid of it. I wouldn't take anything he writes as being a genuine argument.
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Logos
04/10/17 11:15:04 PM
#34:


Tmaster148 posted...
3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


He's basically an AnCap with how every topic of his turns into how the government is bad and we should get rid of it. I wouldn't take anything he writes as being a genuine argument.


"herp DERP anCap HODOR"

that's literally all you have to say, dude. every time. here's tremendous evidence of government being incompetent, in addition to a ton of other examples, and you literally have no response but some generic "hodor ANCAP hahahaha" bullshit. :/
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foreveraIone
04/10/17 11:15:08 PM
#35:


Logos posted...
The irony of the entire thing is that it's the banks that own the government and that profit from treating people like tax cattle. And the left plays right into it by expanding government reach and vying for more taxation for all kinds of useless programs.


Its really more of a pick and choose deal. How many people on the left do you think want to cut the military budget vs. people on the right right now? Most leftists don't think we need a 600 billion dollar military budget. They'd rather see that money go to college or healthcare.

Leftists hate GWB and his trillion dollar war.
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3rd_Best_Master
04/10/17 11:17:12 PM
#36:


Logos posted...
3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
emblem boy posted...
https://www.reddit.com/r/neutralpolitics/comments/63rzt2/_/

What happens to TCs topic now? Does he actually discuss the findings in the article, or is this just a pitiful shot at Obama/certain CE posters? Why does Proudclad hold CEmen to the same level of accountability as a former president?


The point was that it's funny how people think giving the government more money is a good idea / the solution to every problem. The government is utterly incompetent at managing money. It's a train wreck. I'm reminded of when the Bush administration had a similar situation where the Pentagon had a 1 Trillion dollar accounting mess due to military spending.

What does this have to do with giving them more taxes? Would them having less somehow have prevented this from happening?


Shhhh, just raise taxes and give them more. That's all.

Do you find that this is a hard question for you to answer?


Government is incompetent. They need to be starved for cash until they prove they know what they're doing with it.

So how would them having less have prevented this from happening? Is it only government agencies that are subject to budgetary discrepancies? Do you believe that private companies don't have an issue posting financial statements that aren't filled with inaccuracies?
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Logos
04/10/17 11:18:46 PM
#37:


3rd_Best_Master posted...
So how would them having less have prevented this from happening? Is it only government agencies that are subject to budgetary discrepancies? Do you believe that private companies don't have an issue posting financial statements that aren't filled with inaccuracies?


If you have less money, there's less money to waste. Until you prove you're a good steward with other people's money, you shouldn't have access to a blank check.

Private corporations have more incentive to have good books. The shareholders and the IRS will shaft them otherwise. They're not perfect either, and I don't side with any monopolies or companies that engage in shady shit.
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3rd_Best_Master
04/10/17 11:21:22 PM
#38:


So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?
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Gojak_v3
04/10/17 11:22:29 PM
#39:


3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Private companies isn't my money.
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Logos
04/10/17 11:23:08 PM
#40:


3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Do private companies run into this shit as often as the government does? At this kind of magnitude in just a single fucking department, year after year after year? And I didn't make an argument for private anything. I'm merely pointing out that the government doesn't know what the fuck it's doing.
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3rd_Best_Master
04/10/17 11:25:00 PM
#41:


Gojak_v3 posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Private companies isn't my money.

Taxes are no longer your money either.
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Logos
04/10/17 11:25:27 PM
#42:


3rd_Best_Master posted...
Gojak_v3 posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Private companies isn't my money.

Taxes are no longer your money either.


They are if you keep your money in tax sheltered and/or off shore accounts. :)
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3rd_Best_Master
04/10/17 11:26:16 PM
#43:


Logos posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Do private companies run into this s*** as often as the government does? At this kind of magnitude in just a single f***ing department, year after year after year? And I didn't make an argument for private anything. I'm merely pointing out that the government doesn't know what the f*** it's doing.

What rate do government agencies post shoddy numbers? What rate do private companies post shoddy numbers? Have you actually bothered looking?
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Gojak_v3
04/10/17 11:26:21 PM
#44:


3rd_Best_Master posted...
Gojak_v3 posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Private companies isn't my money.

Taxes are no longer your money either.


Wow, lol.
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Logos
04/10/17 11:27:16 PM
#45:


3rd_Best_Master posted...
Logos posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Do private companies run into this s*** as often as the government does? At this kind of magnitude in just a single f***ing department, year after year after year? And I didn't make an argument for private anything. I'm merely pointing out that the government doesn't know what the f*** it's doing.

What rate do government agencies post shoddy numbers? What rate do private companies post shoddy numbers? Have you actually bothered looking?


If private corporations were seeing half a trillion dollars worth of this shit in a single department, I guarantee you the media would be shitposting about it. Don't be obtuse - I don't need to do in depth research into the corporate world in order to prove that the government has no clue what it's doing. You're moving the goalposts. Why? Why are you so hesitant to admit the truth?
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3rd_Best_Master
04/10/17 11:27:54 PM
#46:


Gojak_v3 posted...
3rd_Best_Master posted...
Gojak_v3 posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Private companies isn't my money.

Taxes are no longer your money either.


Wow, lol.

Walk up to Trump and demand your money back then.
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Logos
04/10/17 11:28:17 PM
#47:


3rd_Best_Master posted...
Gojak_v3 posted...
3rd_Best_Master posted...
Gojak_v3 posted...
3rd_Best_Master posted...
So if private companies are also subject to the same issue at times then how is this supposed to be a convincing argument in favor of private corporations?


Private companies isn't my money.

Taxes are no longer your money either.


Wow, lol.

Walk up to Trump and demand your money back then.


Tax sheltered and/or off shore accounts :)
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Gojak_v3
04/10/17 11:28:27 PM
#48:


That's completely not the point and you know it.
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3rd_Best_Master
04/10/17 11:29:45 PM
#49:


Gojak_v3 posted...
That's completely not the point and you know it.

Doesn't matter, I'm Gojaking.
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Logos
04/10/17 11:30:20 PM
#50:


3rd_Best_Master posted...
Gojak_v3 posted...
That's completely not the point and you know it.

Doesn't matter, I'm Gojaking.


You're 3rd_Best_Mastering.
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3rd_Best_Master
04/10/17 11:31:24 PM
#51:


Logos posted...
3rd_Best_Master posted...
Gojak_v3 posted...
That's completely not the point and you know it.

Doesn't matter, I'm Gojaking.


You're 3rd_Best_Mastering.

I'm about to start proudcladding in a second.
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