from the buddy-can-you-spare-me-a-dime? dept.
The US military's F-35 Joint Strike Fighter aircraft is proving to be a pain in the neck in more ways than one. Not only did the Pentagon spend almost $400 billion to buy 2,400 aircraft - about twice as much as it cost to put a man on the moon - the F-35 program is 7 years behind schedule and $163 billion over budget. This at a time when cuts in the defense budget are forcing the Pentagon to shrink the size of the military. CBS 60 Minutes took a closer look at the troubled fighter plane a few months back, but their rebroadcast on Sunday evening seems like as good a reason as any to revisit one of the biggest ongoing budget debacles in U.S. military memory. David Martin gets an inside look at what makes the F-35 Joint Strike Fighter the most expensive weapons system in history.
Overall fleet-wide monthly availability rates remain around 50 percent, a condition that has existed with no significant improvement since October 2014, despite the increasing number of new aircraft. One notable trend is an increase in the percentage of the fleet that cannot fly while awaiting replacement parts – indicated by the Not Mission Capable due to Supply rate.
[...] Total acquisition costs for Lockheed Martin Corp.'s next-generation fighter may rise about 7 percent to $406.5 billion, according to figures in a document known as a Selected Acquisition Report. That's a reversal after several years of estimates that had declined to $379 billion recently from a previous high of $398.5 billion in early 2014.
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