More than $1 billion in military equipment missing in Iraq.

A new Government Accountability Office Pentagon Inspector General report details “massive failure in government procurement,” revealing that there is “more than $1 billion in unaccounted for military equipment and services provided to the Iraqi security forces.” According to the analysis, the military, for example, “could not account for 12,712 out of 13,508 weapons, including pistols, assault rifles, rocket propelled grenade launchers and machine guns.”