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Thu, Jul 14, 2011

McCain: JSF Has Racked Up $771 Million In Overruns

Number Given To Armed Services Panel Monday, Senator Informs Twitter Followers

Arizona Senator John McCain (R) issued a Tweet on Tuesday saying that Lockheed Martin overshot its cost targets for the early F-35 models by $771 million, and called the figure "outrageous."

Senator McCain

McCain continued that the Pentagon's attempt to appropriate $264 million as a "kind of down payment" on the overrun is "disgraceful."

Reuters reports that McCain has sought to put the 5th generation fighter program on probation in the past, saying it should not "drain resources" from other Pentagon modernization projects. He filed an amendment to the 2012 defense authorization bill that would end the program at the end of that year if the costs are not contained. That amendment died in committee, but McCain has said he plans to revive it as a floor amendment during debate.

At $382 billion for 2,442 aircraft, the JSF is the most expensive defence procurement program ever. The F-35 Joint Program Office reported the cost overrun figure to the Senate Armed Services Committee staff on Monday, saying it applied only to the first 28 jets.



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