The Pentagon announced late last week that it failed its seventh consecutive audit as the sprawling, profiteering-ridden department wasn’t able to fully account for its trillions of dollars in assets.

The U.S. Department of Defense failed its seventh consecutive audit on Friday, with the agency unable to fully account for its $824 billion budget.

Congress required all federal agencies to submit annual financial reports in 1990. The Pentagon finally got around to complying in 2018, and it still hasn't passed an audit.

S.C., weighs in on Trump's Cabinet picks, the Pentagon's failed audit, the incoming administration targeting wasteful spending, the Ukraine-Russia war and Republicans' control of the House, Senate and presidency.