Pretty much everything the Pentagon does is over budget, behind schedule, and budget-wise, generally a spawn of wishful thinking
And by "wishful thinking" you mean the wish that a whole bunch of pork will land in a barrel somewhere, right?
Wish? More like planned that way. The Pentagon knows how to play the game: lowball your estimate for a weapon system you're selling as critical to national security, get the process flowing to as many Congressional districts as possible (one factor that raises costs, in fact) in order to gather maximum support, and then when production actually starts, you know that Congress won't have the courage to cancel the program.
I'm very hawkish, but over the years, I've also become very, very cynical about how we buy weapons. This is one of the reasons that, despite my support for free trade in civilian goods, I think perhaps we should go back to a mostly-nationalized weapons building regime. The Navy owns a lot of shipyards, the Air Force a lot of aircraft plants, and the army some armories (and in the past, even armor factories). But they no longer design and build ships, planes, and guns on their own. It's totally contractor driven now, and anyone that studies the issue objectively has to admit that weapons procurement (domestically) is in no way any kind of free market... it just has the appearance of one. The whole process is very corrupt (by design). Maybe we'd be better off going back to designing and building our own ships and aircraft (the Navy especially was into doing this... they even had their own aircraft factory, and they found that it kept costs down in the 20's and 30's as it kept 3rd party contractors honest).
This is coming from a right winger, folks. Entitlements are our biggest budget problem, and a corrupting influence on it's own, but we can not continue to ignore the fiasco that is our arms procurement process and military budget either. No nation in the world can afford $15 billion dollar aircraft carriers and $200+ million dollar fighter planes in any useful quantity. And not only are we engaging in corruption, we're borrowing 40 cents on the dollar to do it.