By MARK THOMPSON TIME Marine Major Aric “Walleye” Liberman was uncharacteristically modest for a Navy SEAL turned fighter pilot. He had just landed an F-35–one of the 2,457 jets the Pentagon plans to buy for $400 billion, making it the costliest weapons program in human history–at its initial operational base late last year. Amid celebratory […]
2. Cost To Our Country
Where Does the Money Go? In fiscal year 2014, the federal government will spend around $3.8 trillion. These trillions of dollars make up a considerable chunk – around 22 percent – of the US. economy, as measured by Gross Domestic Product (GDP). That means that federal government spending makes up a sizable share of all money spent in the […]
Thu, Mar 29 2012
By Andrea Shalal-Esa
WASHINGTON (Reuters) – The U.S. government now projects that the total cost to develop, buy and operate the Lockheed Martin Corp F-35 Joint Strike Fighter will be $1.45 trillion over the next 50-plus years, according to a Pentagon document obtained by Reuters.
By CHRISTOPHER DREW See original at http://www.nytimes.com/2010/10/20/business/20arms.html?ref=christopher_drew .
Lockheed Martin on Tuesday cut its earnings forecast for 2010, and said delays in the award of Pentagon programs would hurt its sales growth and leave profits flat in 2011.
The company, the world’s largest military contractor, said the percentage growth rate in its sales would slow to the “low single-digit range” next year as a long surge in Pentagon spending comes to an end.
Depending on how you look at it this chart either is good in that it says we are keeping our troops safe (which is debatable!) or bad in that we are allocating too much money to too much hegemony, while lining the pockets of folks like Lockheed Martin the maker of the F-35 and others on the Spade Defense Index I discussed earlier. I say this money would be better spent domestically. We are currently spending $698.14 per active-duty US military enlistee.
The pentagon and Secretary of Defense Robert Gates have stated for the last couple of years their sincere desire to cut military costs and drive down their annual $738 billion budget. Of this $134-137 billion goes to procurement, while $77-81 billion goes to R & D according to President Obama’s latest budget proposal for FY 2011 (http://www.nytimes.com/interactive/2010/02/01/us/budget.html). However, a recent article in The Times by Christopher Drew (http://www.nytimes.com/2010/09/15/business/15pentagon.html?ref=business) reveals the true intentions of Mr. Gates et al.