Money to burn – cancelled U.S. military equipment projects cost $58 billion
TEHRAN (Basirat)- A new government report released this week states that the Pentagon spent at least $58 billion over the last 20 years on weapons systems that not only were never built, but often never made it past the design phase.
A new government report released this week states that the Pentagon spent at least $58 billion over the last 20 years on weapons systems that not only were never built, but often never made it past the design phase.
The report, released by the Undersecretary of Defense for Acquisition, Technology and Logistics, Frank Kendall, is an internal review of the Defense Department’s acquisition activities, and contains a chart of 23 pricey projects that received billions in initial funding but were later canceled. The report shows this happening as far back as 1997.
The report, released by the Undersecretary of Defense for Acquisition, Technology and Logistics, Frank Kendall, is an internal review of the Defense Department’s acquisition activities, and contains a chart of 23 pricey projects that received billions in initial funding but were later canceled. The report shows this happening as far back as 1997.
The Army’s Future Combat System was one of the most expensive of
the doomed military-money pits, costing over $20 billion, with the
RAH-66 Comanche attack and reconnaissance helicopter second with a $9.8
billion price tag before operations were ceased. Taken together these
two programs account for 50 percent of what was deemed "sunk costs,”
according to the Washington Examiner.
The $3.7-billion National Polar-orbiting Operational Environmental Satellite System, the $2.7-billion Lockheed Martin VH-71 helicopter, and the $2.5-billion JLENS air-defense blimp are a few of the other pricey and failed ventures detailed in the report.
The $3.7-billion National Polar-orbiting Operational Environmental Satellite System, the $2.7-billion Lockheed Martin VH-71 helicopter, and the $2.5-billion JLENS air-defense blimp are a few of the other pricey and failed ventures detailed in the report.
Out of 23 projects, eight were able to spend all of their allocated money before the plug was pulled.
