Author: Tony Capaccio
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US sees China’s space threat growing at ‘breathtaking pace’
WASHINGTON — China is growing its military capabilities in space at a “breathtaking pace” to counter the American satellites in orbit and improve its ability to monitor and target forces on Earth, according to the head of the U.S. Space Command. America’s top strategic challenger is seeking to develop advanced space weaponry and making advances…
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Pentagon racks up $35 trillion in accounting changes in one year
The Pentagon made $35 trillion in accounting adjustments last year alone — a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books. The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a…
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Lockheed’s $15B Saudi deal at risk after Khashoggi death
Lockheed Martin’s potential $15 billion sale to Saudi Arabia of its Thaad air-defense system may be the unfinished deal most vulnerable to growing congressional demands to stop providing arms to the desert kingdom after the killing of critic Jamal Khashoggi. It also underscores that the $110 billion package of arms sales that President Donald Trump…
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Lockheed targets $5 billion in F-35 savings after Trump pressure
Lockheed Martin Corp. is working with suppliers to squeeze $5 billion from the F-35 fighter jet’s costs as the company negotiates the Pentagon’s biggest order yet of a weapon that has been criticized by President Donald Trump. “President Trump and his administration have made clear they are focused on being smart buyers,” Lockheed Chief Executive…
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Navy’s troubled Littoral Combat Ship at crossroads, GAO says
The U.S. Navy’s Littoral Combat Ship program “stands at a crossroads,” as the service prepares to ask Congress to authorize spending as much as $14 billion to buy more of the troubled vessels, congressional auditors say. Congress must decide “whether a ship that costs twice as much yet delivers less capability than planned warrants an…