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).
- Top Stories
- Unusual News
- Where is the Money Going?
- U.S. and the World
- Appointments and Resignations
- Latest News
- FDA Issues its First-Ever Cybersecurity Alert
- So Far in the 2016 Presidential Campaign, Half of Donation Dollars have come from just 400 Families
- Supreme Court’s Legalization of Same-Sex Marriage Doesn’t Apply to Indian Reservations
- For the First Time, Two Women Advance to Final Stage of Army Ranger Training
- Chinese Companies Find Cheap Labor in the U.S. South