GAO Slams F-22 Costs, Urges Congress To Oppose Bulk Buy

Published: Jun 21, 2006
Source: money.aol.com



WASHINGTON (Dow Jones)--The Government Accountability Office on Tuesday slammed Lockheed Martin Corp.'s (LMT) F-22 stealth fighter and urged Congress to block a proposed long-term purchase contract, according to a new unreleased report obtained by Dow Jones Newswires.

GAO's blast came as supporters rallied around the Pentagon's funding plan for the state-of-the-art fighters, which cost more than $130 million each. The Air Force wants to buy 60 planes over three years but needs special permission from Congress to ink the deal.

On Tuesday, GAO wrote House of Representatives appropriators that the Pentagon should be sanctioned for poor analysis and weak program management. U.S. Comptroller General David Walker, who heads the congressional watchdog agency, said the Pentagon has withheld studies justifying the Defense Department proposals. Also, the F-22 program doesn't meet the standards required for bulk purchasing under federal law, GAO said.continue..