Military contractors overcharge the Pentagon on almost everything the Department of Defense buys each year, experts told 60 Minutes over the course of a six-month investigation into price gouging.
$842 billionRetired Air Force Lieutenant General Chris Bogdan, who spent his career overseeing the purchase of some of the country's most critical weapons systems, said there's an inherent conflict between the Pentagon and defense contractors.
"The landscape has totally changed," Assad said."In the '80s, there was intense competition amongst a number of companies. And so the government had choices. They had leverage. We have limited leverage now." The Pentagon granted companies unprecedented leeway to monitor themselves. Instead of saving money, Assad said the price of almost everything began to rise.
A Pentagon study released last month found major contractors flush with"cash beyond their needs for operations or investment." They have tens of billions of excess cash from Pentagon business to hand out to shareholders.
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