Word: costs
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Dates: during 1970-1979
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...bank officers and friends, overstatements of bank assets and inadequate reserves for loan losses. They claimed that Lance inflated his net worth by up to $1,409,779 in applying for loans from his own banks and others. The investigators also found that Lance used an NBG airplane, which cost $223,180 to operate from 1975 through 1977, during which Lance and other bank officials flew on 1,373 trips. But the bank could only produce records indicating that 259 of the trips were for business purposes...
...surprise Soviet attack. For this reason there is little opposition to modernizing the strategic submarine fleet by building 14 Tridents, at a cost of about $1.2 billion each. The current budget, in fact, provides $2.9 billion for the Trident program...
...question that will be heatedly debated by Congress in the weeks ahead. To reach the Navy's goal would require spending about $5 billion extra annually. Even bringing the fleet up to the more modest level of 500 ships, which the Administration believes should be sufficient, would cost about $500 million a year more than Carter has requested...
...Even more startling are the cost overruns of new ships still in production. The projected price of a Trident missile-firing submarine, for example, has shot from $793 million to $1.2 billion in the past three years, while that of the Vinson nuclear-powered carrier has climbed from $973 million to $1.3 billion in five years...
...certainly also a major cause. Construction of warships has fallen a year or more behind schedule, and relations between the service and its major suppliers have sunk to their lowest point in many decades. The Navy, in fact, has been slapped with claims demanding $2.7 billion in payment for cost overruns by the nation's major shipbuilders?General Dynamics' Electric Boat Division, Tenneco's Newport News Shipbuilding and Dry Dock Co., and the Ingalls Shipbuilding Division of Litton Industries...