The Defense Department's serious financial problems constitute the largest barrier keeping the federal government from producing timely and reliable financial information on how it spends taxpayer dollars, according to a new Office of Management and Budget report to Congress. Federal agencies "are plagued by repeat material control weaknesses -- areas so problematic year after year that they detrimentally affect the reliability of financial information and could endanger program delivery," states the OMB report, released today. OMB found financial management problems...
