True World Intelligence News (TWIN)

Voice of Truth: Proclaimer of truth and defender of the faithful

Uncle Sam Doesn’t Care About American People: It Wastes $49 Billion a Yr on F35 Jet

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Just days before its international debut at an airshow in the United Kingdom, the entire fleet of the Pentagon’s next generation fighter plane — known as the F-35 II Lightning, or the Joint Strike Fighter — has been grounded, highlighting just what a boondoggle the project has been. With the vast amounts spent so far on the aircraft, the United States could have worked wonders, including providing every homeless person in the U.S. a $600,000 home.

It’s hard to argue against the need to modernize aircraft used to defend the country and counter enemies overseas, especially if you’re a politician. But the Joint Strike Fighter program has been a mess almost since its inception, with massive cost overruns leading to its current acquisition price-tag of $398.6 billion — an increase of $7.4 billion since last year. That breaks down to costing about $49 billion per year since work began in 2006 and the project is seven years behind schedule. Over its life-cycle, estimated at about 55 years, operating and maintaining the F-35 fleet will cost the U.S. a little over $1 trillion. By contrast, the entirety of the Manhattan Project — which created the nuclear bomb from scratch — cost about $55 billion in today’s dollars.

On any given night in 2013, the Department of Housing and Urban Development concluded, there were an estimated 600,000 homeless Americans living on the streets. Numerous studies, however, have showed that rather than putting money into temporary shelters or incarceration, communities have saved millions of dollars by investing in permanent homes for the homeless. A recent report showed that in one Florida community, it cost taxpayers an estimated $30,000 to take the homeless off the streets through traditional methods, but only around $10,000 per person to give them permanent housing and provide job training and other support. Expanding that concept to the Federal level, even taking into account things like varying real estate prices around the country, it’s possible that $7.4 billion would be more than enough to start a program nationwide. With the full amount spent on the F-35 at its disposal, the U.S. could afford to purchase every person on the streets a $664,000 home.

…Earlier this year, President Obama signed into law an compromise version of the Farm Bill after months of deadlock saw the expiration of the former version. As part of the deal, House Republicans demanded huge cuts to the Supplemental Nutrition Assistance Program (SNAP), former known as food stamps, backing down only after a veto threat from the White House. The final bill, however, still included $8.7 billion worth of cuts, equaling about a $90 per month cut for recipients. The F-35′s excess costs for the last year by themselves could have nearly covered all of the losses, prevent state governors from having to scramble to provide families with the assistance they need. 

 

http://thinkprogress.org/world/2014/07/09/3458101/f35-boondoggle-fail/

 

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Written by voiceoftruthusa

July 12, 2014 at 4:04 am

Posted in Uncategorized

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