New submitter phyzz writes "The F-35 Joint Strike Fighter program aimed to replace several aircraft from three major military services with a fifth-generation model capable of short-takeoff and vertical-landing while maintaining the capability of sustained supersonic flight — all while staying affordable. The project has finally gotten some test points validated, but after a decade in development and numerous cost and schedule overruns, it faces an uphill fight against budget reductions. Bloomberg has an interesting story about the program's troubled past. Quoting: 'Ten years and $66 billion later, the aircraft is still in development, five years behind schedule and 64 percent over cost estimates. The Obama administration may cancel some models and also cut the Pentagon’s orders. The plane, envisioned as the affordable stealth fighter for the U.S. and allies, has turned into a budget target. "I’d blame the program’s setbacks on the fact that we lived in a rich man’s world," said Jacques Gansler, a former Pentagon chief weapons buyer in the Clinton administration and now a professor at the University of Maryland at College Park. "There has been less emphasis on cost over the past 10 years," he said.'"