In an era of fiscal restraint across the government, the Wall Street Journal looks at how “financial considerations are vital to the Air Force’s most important project today: building a new long-range bomber to replace the iconic and aging B-52s and B-1s that have come to represent America’s domination of the sky.”

“The plane of the future, dubbed the ‘Long-Range Strike Bomber,’ is the first weapon system to be designed in the new age of military austerity… In 2011, officials agreed to spend $550 million on each new bomber—a third of the cost of its predecessor, the B-2 bomber.”

“About $600 million has been spent so far to research the new plane and another $8.7 billion is set to be spent over the next five years.”

Crossposted at Wonk Wire.