Phi Beta Iota: The waste is actually closer to 60% if not higher for the following reasons:
1) No serious grand strategy (whole of government) with reasonable objectives focused on real threats like poverty and disease
2) No serious military strategy focused on real threats with real capabilities such as a 450-ship Navy, long-haul Air Force, and air-liftable Army
3) Zero planning for communications, intelligence, and logistics supportability of new weapons systems
4) Zero consciousness of true costs over life cycle
5) Front loading fraud
6) Zero planning and programming among services and civilian agencies for inter-operability
7) Severe corruption of the oversights process between retired flags as contractors, no serious Operational Test & Evaluation, and an Inspector General wearing a straight jacket at all times.