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JSF program cost to rise $45 Billion
April 6, 2004 (by Eric L. Palmer) - Yet another anouncement that the total cost of the Joint Strike Fighter Program will increase. This time it will surge $45 billion, or 22.6 percent, due to rising labor costs and program delays, the Pentagon said on Monday.
The Defense Department has recently signaled rising costs for the new jet, also known as the F-35, which is designed to be the main U.S. fighter in coming decades. But the extent of the increase caught even Lockheed and program critics by surprise and could prompt tough scrutiny by Congress, which is worried about rising federal deficits. Estimates of the total program cost for JSF is $245 billon.