The US Air Force made a $25 billion accounting error

9 years ago | Posted in: Business | 593 Views

In a report to Congress last year, the Air Force estimated the cost of the new Long Range Strike Bomber (LRSB) to be $33.1 billion for the next 10 years. This year, that price ballooned to $58.2 billion.

The amount of the gap is so large that it caught the attention of Rep. Jackie Speier (D-California), who demanded answers from Secretary of the Air Force Deborah Lee James and Gen. Mark Welsh, the Air Force chief of staff. How does the Air Force explain the $25 billion error? It says the cost should have actually been $41.7 billion, but human error was the explanation for the discrepancy.
Welsh insists he was caught off guard as well. It was just a multibillion-dollar oopsie, people.

“We were surprised by the number when we saw it as well once it had been pointed out to us that it looked like the number had grown, because we’ve been using the same number,” Welsh said… see more

source: businessinsider

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