Pentagon has spent billions on doomed programs; cash looms large with budget cuts

The Pentagon has squandered billions of dollars over the past two decades on weapon systems it never produced and on rosy cost estimates that ballooned to sizes that ate up funds for other projects, according to government reports and defense analysts.

The miscalculations have come back to haunt the armed forces at a time when tighter budgets are forcing it to curtail basic war-fighting preparations such as training, ship and aircraft repairs, and overseas deployments.

Pro-defense conservatives, however, say that despite the procurement mistakes, the country needs a robust military to confront an array of threats — and that costs money.

Read more