Stunning Cost Overruns in Weapons Development Programs
Had Benjamin Franklin ever served as Secretary of Defense, he might well have added “cost overruns” to his now famous adage about “nothing is certain but death and taxes,” given how predictable the Pentagon has become in going over budget with weapons programs. The latest report by the Government Accountability Office (GAO) on the Defense Department’s spending habits reveals, yet again, that of nearly a hundred programs totaling more than a trillion dollars, more than 70% are behind schedule, incurring added costs and forcing military planners to downsize their orders (also yet again).
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