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Friday, March 16, 2012

Navy confirms cost overrun on CVN 78

[USS Gerald R. Ford (CVN-78)]Navy Secretary Ray Mabus confirmed Thursday that the cost overrun for the aircraft carrier USS Gerald R. Ford is projected to reach $1 billion, bringing the ship’s total cost to some $12 billion — but said it’s on track to be delivered on schedule.

The admission took place under questioning from Arizona Sen. John McCain, the ranking Republican on the Senate Armed Services Committee, who pointedly asked Mabus “what have you been doing on your watch” to control the costs on the new ship.

Mabus said the Navy’s deal with shipbuilder Huntington-Ingalls Industries is such that the government has “recovered its fee” for the project, and remainder of the money for the ship will only go to cover its costs.

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