Monday, April 06, 2009
The premier fighter in the world today and pfffffft, gone. Additionally, 90,000 legitimate jobs down the toilet. Billions for AIG and ACORN but hammer our defensive capabilities with the stroke of a pen, great tradeoff.
In a blow to Lockheed Martin, the Pentagon has decided to purchase to end funding of the F-22 fighter jet.
The decision by Defense Secretary Robert Gates will rouse widespread opposition in Congress and is likely to bog down the 2010 budget approval process, with F-22 supporters maneuvering to secure more money.
The Pentagon will fund four of the radar-evading stealth fighters in the upcoming 2009 emergency war-spending request, but those additional aircraft will do little to keep the production line in Marietta, Ga., open beyond 2011. Lockheed Martin is the main contractor for the F-22, each of which costs about $140 million.
Gates announced the decision at a press conference on the Defense budget on Monday afternoon.
Posted by traderrob at 12:01 PM