Lockheed’s F-35 Costs Rose 64% Over Decade in ‘Rich Man’s World’

Lockheed Martin Corp. (LMT) won the F-35 Joint Strike Fighter program in the wake of the Sept. 11, 2001, attacks when U.S. B-52 bombers were pummeling the Taliban and Pentagon spending was unleashed.

Ten years and $66 billion later, the aircraft is still in development, five years behind schedule and 64 percent over cost estimates. The Obama administration may cancel some models and also cut the Pentagon’s orders.

The plane, envisioned as the affordable stealth fighter for the U.S. and allies, has turned into a budget target.

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