F-35 is far behind schedule and over budget, reports show

Work on the F-35 joint strike fighter program is far behind schedule and over budget despite the completion Saturday of a milestone test flight.

Reports prepared by the Defense Contract Management Agency for Defense Department officials show that Lockheed and other contractors are months late on deliveries of test airplanes and components for future production aircraft.

The program is even farther behind on testing, and the reports say Lockheed could exhaust its development budget within a year.

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