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Operation Overrun

And you thought $600 toilet seats were bad.

| Tue Jun. 23, 2009 5:00 AM EDT

Our Overruns Kick China's Ass

That $296 billion in cost overruns is so staggering that I wanted to put it in some perspective. There is no single country whose entire military costs even close to what the US has wasted to date on big-ticket weapons programs. To wit:

(Foreign defense budget totals are for 2008)

That's right: China, which was the world's single second-biggest defense spender in 2008 after the US and supposedly such an existential threat that it justified the purchase of obsolete and exorbitant weapons programs, spends less than a third of what the Pentagon is wasting.

In fact, the amount the US is wasting on weapons exceeds the GDPs of some sizeable countries, including:

Romania $271 billion
Norway $256 billion
Chile $245 billion
Vietnam $242 billion
Bangladesh $224 billion
Denmark $205 billion
Israel $201 billion

Research credit: Taylor Wiles

Special Report: Shock & Audit

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