By Doug Cameron
The Pentagon said Thursday that the estimated cost of its
biggest weapons programs fell slightly last year to $1.62 trillion,
though much of the decrease reflected assumptions about lower
future inflation.
The Defense Department's annual update on the cost of new
submarines, missiles and other equipment included a 1.9% drop in
the estimated cost of the F-35 fighter program compared with 2013
following a concerted effort by Lockheed Martin Corp. and its
partners to make the plane more affordable.
The report is closely watched as an indicator of the Pentagon's
effort to improve the efficiency of the way it designs and buys new
weapons, as Congress continues its scrutiny of the latest
defense-budget request.
The Obama administration and military chiefs want Congress to
authorize spending for fiscal 2016 above existing budget caps,
warning that further reductions would harm national security.
Overall, two thirds of the 79 weapons programs tracked in the
report reported lower costs in 2014 compared with the previous
year.
Write to Doug Cameron at doug.cameron@wsj.com
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