U.S. government may cancel its F-35 Joint Strike Fighter program

JAISWAL

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U.S. government may cancel its F-35 Joint Strike Fighter program

U.S. government is threatening to cancel its F-35 Joint Strike Fighter program unless Congress approves a credible deficit reduction plan.



U.S. Defence Secretary Leon Panetta includes the F-35 program in a detailed list of items that could be on the chopping block should a so-called "super committee" fail to deliver on a plan to find $1.2-trillion-in savings over the next 10 years.

The bi-partisan committee – officially called the Joint Select Committee on Deficit Reduction (JSCDR) – must reach a deal by next Wednesday. Should they fail, across the board cuts to government spending, described as "sequestration," would kick in almost immediately.

In letters to Senators John McCain and Lindsey Graham, Mr. Panetta outlines what these cuts could look like.

"If the JSCDR fails to meet its targets and sequestration is triggered, [Department of Defence] would face huge cuts in its budgets," Mr. Panetta writes in a letter dated Nov. 14.

"Decisions related to major programs could include: Terminate Joint Strike Fighter; minimal life extensions and upgrades to existing forces," the letter states, describing this measure as a potential savings of $80-billion U.S.

The likelihood of this scenario is unclear at the moment. Mr. Panetta's letter is clearly an attempt to pressure the committee to avoid these cuts by approving a plan in advance of the deadline. Commentary in the United States suggests there is a high degree of uncertainty as to the odds the committee of Senators and members of the House of Representatives will come up with a plan.

Washington could scrap its F-35 jet purchase - The Globe and Mail
 

JAISWAL

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US Budget Cuts May Kill Lockheed's F-35 Jet

U.S. Defense Secretary Leon Panetta told Senators John McCain and Lindsey Graham that defense budget cuts of as much as $1 trillion may lead to the termination of Lockheed Martin Corp.'s F-35 jet.

In a letter today to the two Republican lawmakers, Panetta said reductions beyond the $450 billion, 10-year defense budget cuts already planned would reduce the "size of the military sharply."

If a special committee of lawmakers fails to reach agreement on U.S. deficit reduction, that would trigger a so- called sequestration. That would involve at least another $500 billion in defense cuts over a decade and reduce Pentagon programs in 2013 by 23 percent if the president exercises his authority to exempt military personnel, Panetta said.

Panetta said such funding reductions might lead to termination of major programs such as Lockheed's F-35 Joint Strike Fighter, major space initiatives, silo-based U.S. nuclear missiles and ground combat vehicle modernization.

Nov. 23 Deadline

A congressional supercommittee, seeking at least $1.2 trillion in deficit reductions, has until Nov. 23 to get an agreement. If Congress fails to approve the panel's plan, federal spending would be cut automatically, including about $500 billion from the Defense Department.


Panetta Says Budget Cuts May Kill Lockheed’s F-35 Jet - Businessweek
 

Param

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What the Heck? Is the situation so bad? What if there is further economic crisis in the US?Looks like China just has to wait for a decade more.
 

SHASH2K2

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I guess its nothing but a pressure tactics to evoke chinese fear among masses to avoid drastic cuts in defence budgets .
 

sayareakd

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Send us 10 for free and we might buy 50 for navy, that too after all contractual clauses in our favor, that might save F35 and LM profits.
 

trackwhack

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OMG.. im witnessing death of a superpower
Nonsense!

The US needs to get its house in order. The F 35 is a failed experiment. The longer they drag it the more of a dent it creates. My opinion - This is a good thing.

There is no death of a superpower happening. Even Russia is still a superpower and just losing some territory did not cause it to die.
 

Falcon

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This might be interesting to see:

 
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agentperry

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Nonsense!

The US needs to get its house in order. The F 35 is a failed experiment. The longer they drag it the more of a dent it creates. My opinion - This is a good thing.

There is no death of a superpower happening. Even Russia is still a superpower and just losing some territory did not cause it to die.
first of all russia is no longer a superpower but simply a developing nation. secondly usa has its moral-both public and govt very low. and the economy is in shamble which is beyond your imagination- they are worried because the faultlines are too big to be fixed.

f-35 cancellation is an outcome and not a cause
 

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