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Defense Spending / Past Projects #203502

CBS Evening News for Monday, May 12, 1969
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(Studio) Senator Armed Services Committee Chairperson John Stennis says Committee to study C-5-A cargo planes' excessive costs. Reporter tells of earlier defense projects which weren't questioned.
REPORTER: Walter Cronkite

(DC) B-70 supposed to be bomber of future. 1 crashed in public relations filming; other 1 on display. $1,468,000,000 canceled. Pentagon gets $30 billion; public aware not all money spent wisely. 1st Secretary Air Force, Senator Stuart Symington, adds up wasted amts. [SYMINGTON - says $23,053,000,000 wasted on abandoned projects.] [Former Pentagon Research Chief, Dr. Herbert YORK - cites $10 billion lost in bomber defense attempts and losses in offensive programs.] Pentagon admits failures like P-6-M jet-powered flying boat. Program canceled after $400 million spent. Pentagon and AEC spent $1 billion on impractical plane. $677,400,000 wasted on bombers. Air Force Chief Staff, General Thomas White, says they didn't do anything manned bombers couldn't do. Another Air Force pilotless bomber cost $679,800,000. Boeing's cost $2,036,200,000. F-111 designed for Air Force and Navy. Navy version canceled; cost $200,000,000. Army battletank prototype costs $2,000,000,000. All-weather plane version cost $100,000,000. Budget Bureau's Richard Stubbins reports on over-complicated electronics. Only 2 systems of 60's performed up to contractor's standards. Pentagon has powerful friends on Capitol Hill.
REPORTER: Steve Rowan

Cronkite, Walter;
Rowan, Steve

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