Trump Tweets on Out of Control F-35 Costs; Market Scrambles

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Trump’s tweets always stir up conversation and controversy.

This time, however, Trump’s tweet may decrease taxpayer dollars.

According to Zero Hedge:

After running up dramatically post-Trump’s victory, Lockheed Martin shares are tumbling again this morning after the president-elect tweeted, questioning the costs of the company’s F-35…

The reaction was a swift 3% plunge in the share price…

In Feb., Lockheed Martin said in a filing that “The F-35 program is our largest program, generating 20% of our total consolidated net sales, as well as 59% of Aeronautics’ net sales in 2015”

The tweet appears to have come in response to this story exposing “The Pentagon’s most expensive weapons program”…

…The F-35 is the Pentagon’s most expensive weapons program, with an estimated cost of nearly $400 billion. Israel is among a small number of allies to get the plane.

Why exactly do we need planes that cost taxpayers billions of dollars?

Trump called the F-35 program and its cost “out of control”. He also promised “billions of dollars can and will be saved on military (and other) purchases after January 20th.”

As ZeroHedge points out, “First Boeing, now Lockheed Martin… Raytheon next? Maybe the swamp of wasting taxpayer money is being cleaned up after all.”

This is why Trump was elected. He calls it as he sees it.

Whether you like what he has to say or not–his honesty and candor is refreshing. With a fresh set of eyes and blasting down the wall of the Washington establishment, Trump is taking an objective look at the budget.

And, regardless of what you think of Trump, it’s hard to frown on lowering taxes.

That is something worth tweeting about.

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Source: thefederalistpapers.org

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