via Business Insider.
Defense officials at the Pentagon say they need up to $500 million more to finish the development phase for the F-35, the troubled fifth-generation fighter that's already gone 50% over its original budget.Wow.
The F-35 program office requested the money last month to the Defense Acquisition Board, according to Bloomberg, which first reported the news Wednesday. The call for additional funds is pretty familiar at this point, since the program — known as the Joint Strike Fighter since it will be used by the Navy, Marines, and Air Force — has been plagued by lengthy delays and enormous cost overruns.
Its overall lifetime budget has ballooned to more than $1.5 trillion, making it the most expensive weapons system ever built by the US.
Sen. John McCain (R-Ariz.), the chairman of the Senate Armed Services Committee, has in the past called those cost overruns a "disgrace."
"It has been both a scandal and a tragedy with respect to cost, schedule and performance," he said in April.
Forget auditing the Pentagon. Just do a deep dive audit on this program! $500 million dollars more? That money could fund SO many other more important projects! We would have a complete buy of ACV's to replace the AAV. Every Stryker could get upgraded to 30mm Dragoon status! We could replace the F-15/16/18 with new builds!