A common characteristic of a system that is handling too much money is that it neither knows nor cares how much money it is spending on its own major assets.

The U.S. Air Force does not keep complete records on the cost to operate and support its aircraft and misreports those costs on the rare occasion it is asked to. These costs are not inconsequential; typically, they are twice the cost to initially buy the aircraft.

Winslow Wheeler reports in a new study for the Straus Military Reform Project.
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