Pentagon's F-35 Cost Reaches $1.5T Amid Deep Budget Cuts

Law360, New York (April 2, 2012, 7:38 PM EDT) -- The U.S. Department of Defense said Friday that the overbudget F-35 Joint Strike Fighter program is now expected to cost a total of $1.5 trillion, in a report that features cost revisions for 95 major weapons contracts, including many that are set to be canceled or scaled back.

Overall, the Pentagon's selected acquisition reports, which were prepared to complement the agency's 2013 budget request, showed that reductions outweighed cost increases, to the tune of roughly $100 billion compared with the end of 2010. The overall decrease...
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