The F-35 Joint Strike Fighter program -- already the most expensive defense acquisition program in U.S. history -- just got even more costly, to the tune of $771 million. The Pentagon informed the Senate Armed Services Committee Monday that the first 28 production models of the F-35, some of the world's most technologically advanced fighters developed by defense contracting giant Lockheed Martin, were going to cost the additional three quarters of a $1 billion, and the government will be picking up part of the tab. Lockheed Martin F-35 Fighters to Cost Another $771 M - ABC News Dec. 14 (Bloomberg) -- The U.S. House of Representatives today passed a $662 billion defense bill that seeks to control rising costs of the Lockheed Martin Corp. F-35 jet, the Pentagons most expensive weapons program. The bill, endorsed by negotiators from the House and Senate on Dec. 12, also mandates that members of al-Qaeda be placed in military detention and includes a provision passed by the Senate to impose sanctions on Irans central bank. The House passed the defense authorization act 283-136. The Senate is expected to vote on the bill this week before it goes to President Barack Obama for his signature. The defense authorization act sets military policy and spending targets for fiscal year 2012, which started Oct. 1. The negotiators agreed to a provision that directs the Pentagon, in a forthcoming sixth F-35 production contract, to place greater risk on Lockheed Martin to absorb overruns. If costs exceed a negotiated target, the company would absorb the entire amount instead of splitting the increase with the U.S. government. The U.S. is negotiating the fifth contract for the F-35. At $382 billion, the F-35 is the Pentagons largest weapons program. U.S. House Passes $662 Billion Defense Bill Headed for Senate - Businessweek First let's get a few things out of the way here, one thing is that the F-25 program has become a deep well in which Lockheed Martin has been drinking from for a long long time. The other thing here is that while there is a need to replace the F-16, F15, and the long retired F14 and AV8, this aircraft performance wise, cost wise, and in terms of it's long term survivability is not it. If people wonder why our nation is in such a hole financially one need only look at the 110 Billion dollars in the recent budget for Afghanistan and Iraq and the years we have spent there as well as this program here as an example of how Govt. not only spends money in an unwise manner but they also are delivering a substandard product to the warfighter. Most theoreticians of aerial warfare believe that quantity triumphs over quality: moderately advanced jets with highly trained pilots will generally beat a smaller number of ultra-advanced jets. But the military-industrial complex looks for profits rather than battlefield advantages. Israeli News: F-35: Great junk is still junk Whats realliy interesting about this aircraft is that originally it was sold as a low cost stealth aircraft that would be a common platform across all services. With cost orverruns and a massive over reach on the part of Lockheed Martin this aircraft has become close in cost to the F22 per unit and is no where near it in terms of performance. So again, when our Govt. complains about debt and spending, keep in mind that more often than not there is a reason other than just the old folks getting Social Secuirty that causes such things.