Pentagon Cuts $6.9 Billion by Delaying the Lockheed F-35

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The Pentagon is delaying the purchase of 124 F-35 fighter jets from Lockheed Martin in an effort reduce the Pentagon budget.
The multi year impact of the delays is $6.9 billion.
The Pentagon plans to request 32 aircraft in 2012, down from a planned 45.
Further reductions are planned for 2013 & 2014.
These reductions are part of a $178 billion package to reduce Pentagon spending over the next five years.

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