Saturday, March 19, 2011

Is this plane worth more than Austrailia?

This is a very interesting article from The Atlantic that highlights how out of control spending can become within the defense department. Some interesting points:

"Washington intends to buy 2,443, at a price tag of $382 billion.
Add in the $650 billion that the Government Accountability Office estimates is needed to operate and maintain the aircraft, and the total cost reaches a staggering $1 trillion.
In other words, we're spending more on this plane than Australia's entire GDP ($924 billion)."

"In January 2011, even Defense Secretary Robert Gates, a champion of the aircraft, voiced his frustration: "The culture of endless money that has taken hold must be replaced by a culture of restraint." "

http://www.theatlantic.com/national/archive/2011/03/the-f-35-a-weapon-that-costs-more-than-australia/72454/

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