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Post Tagged with: "money"
US money ended up in Taliban hands: report
US government funds earmarked ostensibly to promote business in Afghanistan have landed in Taliban hands under a $2.16 billion transportation contract, The Washington Post has reported. Citing the results of a year-long military-led investigation, the newspaper said US and Afghan efforts to address the problem have been slow, and all eight of the trucking firms [...]
IMF meets amid threat of currency war
WASHINGTON: The specter of a damaging global currency war is set to dominate a meeting of economic powers in Washington Friday, amid bleak hopes for a deal between China, the United States and other powers. Finance ministers and central bankers from 187 countries will convene for an annual meeting of the International Monetary Fund amid [...]
DOD Still Years Away from Managing its Money
Despite efforts to save billions by improving the way it does business, the Defense Department is not only still years away from being able to audit its books, its efforts have lost billions to mismangement, government watchdogs say. In testimony before the Senate Subcommittee on Federal Financial Management, Government Information, Federal Services and International Security, [...]
Department to Call on Services, Components to Identify Savings
WASHINGTON: The military services and defense components will receive official guidance in the coming days directing them to find ways to cut costs and improve efficiencies so the savings can be used to improve warfighting capabilities, Deputy Defense Secretary William J. Lynn III said here today. Lynn is leading Defense Secretary Robert M. Gates’ crackdown [...]
IRS tax tips can save Soldiers money, time
WASHINGTON: The American Recovery and Reinvestment Act of 2009 provides additional tax refunds for some servicemembers and their families. Internal Revenue Service spokesman Mark Hanson shared tips, facts and recommendations to help Soldiers and families get the most back on their return as they file from both home stations and overseas. “Soldiers should pay close [...]
CPSG logistics support expected to save millions
HANSCOM AIR FORCE BASE, Mass: Electronic Systems Center members here transitioned all sustainment actions for a critical base security system from contractors to a government-organic source Feb. 10, reaping large savings for the government. All logistics support for the Tactical Automated Security System will now be performed at the Cryptologic Systems Group in San Antonio, [...]
Army Aims to Stop Flow of Paper Money to Iraq, Afghanistan
WASHINGTON: The United States hasn’t gone cashless quite yet, but in Afghanistan and Iraq, that’s the goal — at least when it comes to the way the Army plans to conduct business there. Brig. Gen. Phillip E. McGhee, director of Resource Management for U.S. Army Forces, U.S. Central Command, said by the beginning of the [...]
UK MoD Puts Defense Programs on the Chopping Block
LONDON: The British Ministry of Defense, faced with budgetary shortfalls, has placed five existing equipment programs on the chopping block in order to save money. The cancellation, reduction, or postponement of these programs is expected to save the MoD roughly GBP1.12 billion and has been approved by the defense council, which is chaired by Defense [...]
Tax Rates Change For Retirees, Annuitants
CLEVELAND: Retirees and annuitants may see a change in the amount of money they receive May 1 thanks to a new tax credit. Public Law 111-05, The American Recovery and Reinvestment Act of 2009, was signed into law by President Obama on Feb. 17. This act authorized a tax credit for most workers including recipients [...]
