Remember when President Obama was very against Dr. Ben Carson, saying he wasn’t experienced enough? Well, it turns out he was experienced enough to find nearly $500 billion in “accounting errors” left behind by the Obama administration. This was what the previous administration didn’t want you to see.
U.S. Department of Housing and Urban Development (HUD) director Ben Carson found $520 billion in accounting errors after ordering an audit of the agency. He knew there was something off.
Of course, it wasn’t just president Obama who was against Carson being appointed. All the democrats were afraid their secrets would be found out. Pelosi had also come out and said that Carson wasn’t qualified and didn’t have enough experience in the housing sector, along with Chuck Schumer, who called him a strange fit, and accused him of being “too anti-government”.
The agency reported their findings:
“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.”