Oversight Hearing on Defense Acquisitions: Waxman's Opening

The Oversight Committee holds a hearing, "Oversight of Defense Department Acquisitions." The hearing will examine the recent report by the Government Accountability Office (GAO) titled, "Defense Acquisitions: Assessments of Selected Weapon Programs" (pdf). This report found that the Defense Department's 95 major weapons acquisition programs currently exceed their original budgets by nearly $300 billion dollars and are, on average, 21 months late in delivering these weapons systems to warfighters. Chairman Henry Waxman gives opening remarks, focusing on a case study of the Marine Corps' Expeditionary Fighting Vehicle (EFV), which after an investment of $1.2 billion in development is now being scrapped and begun again after failure of the design. The new contract has been given to the same company.

Category:

News & Politics

Tags:

• Democrats
• Congress
• Oversight
• Hearing
• Defense
• Acquisitions
• Henry
• Waxman
• EFV

[CostAnalyst]

management does not have a handle on reality... gotta love it

[CostAnalyst]

Acquisition Reform, Cost Overruns, and Uncertainty and Risk - all addressed on my channel.

[2SecSee4u]

Holy Shit! what else can be said about the blatant fraud

[EmelinaChaCha]

While I applaud your investigation into these matters, nothing compares to impeachment at the moment. Democrats are losing grounds and losing votes for November because of the unwillingness to impeach and inability to stop the war. Bush came out and blamed the democratic congress today for the economic failures even though he has been giving tax breaks to the rich and spending trillions on this war. PLEASE IMPEACH!

[arthurpoet]

Thank you, Congressman Nancy Pelosi, and Chairman Henry Waxman.