F-35: Looking At Most Expensive Weapons System Ever -- CBS News
60 Minutes gets an inside look at what makes the $400 billion F-35 Joint Strike Fighter the most expensive weapons system in history.
In the rush to stay ahead of China and Russia, the Pentagon started buying the F-35 before testing it, breaking the traditional “fly-before-you-buy” rule of weapons acquisition. Now taxpayers are paying the price for mistakes that weren’t caught before production began. A Pentagon document obtained by 60 Minutes catalogues the “flawed . . . assumptions” and “unrealistic . . . estimates” that led to a $163 billion cost overrun on what was already the highest priced weapons system in history. David Martin reports on the problem-plagued program and the battles the Pentagon has fought with the plane’s manufacturer, Lockheed Martin, to bring the costs under control. He also gets a firsthand look at some of the plane’s game-changing technology for a story to be broadcast on 60 Minutes, Sunday, Feb. 16 at 7 p.m. ET/PT.
Read More ....
My Comment: I will post the full story on this 60 Minutes report when it becomes available late Sunday/early Monday morning.
Update: Eric Palmer's comments on this story are priceless. On a side note .... I have been following his blog for years .... and it is a must read on the F-35 program.