[Blitzer:] Some more live pictures coming in. The president of the United States getting ready to address about 5,000 sailors, Marines, ship builders, others, on the "USS Gerald R. Ford," an aircraft carrier, a brand new one. Not yet ready, way beyond schedule. We'll have live coverage of the president's remarks coming up. In the meantime, the White House press secretary, Sean Spicer, just tweeted this picture of the president meeting with some of those sailors. The president sporting a red USA hat. It's fitting that the president is visiting the shipyards in Newport News, Virginia. They'll be very busy if the president gets his wish to increase military spending by $54 billion in this current year and next year alone. On the president's wish list are dozens of new naval ships. Here with me, retired Admiral William Fallon, former commander of the U.S. military's Central Command. Thanks for joining us.
[Adm. William Fallon, Former Commander, U.s. Central Command:] Sure, Wolf.
[Blitzer:] What do you think about the president's request for billions more in defense spending right now? As you know, the U.S. already spends more on defense than the next six, seven or eight countries combined, including China and Russia.
[Fallon:] It's true. We also have a responsibility that we've assumed worldwide that nobody else has. But the reality is that the services has been spending a lot of money in recent years on these wars in the Middle East and there's been a recapitalization that's long overdue particularly for the Navy, which has not been able to keep up with readiness. So right now, the readiness of the forces, the head of the Navy is not anywhere near where it needs to be. It needs to be fixed.
[Blitzer:] This new aircraft carrier you served in the Navy for a long time. You were the head of the military's Central Command. And I love aircraft carriers, don't get me wrong. The U.S. now has 10 of them. Used to have more. This one they started building it in 2008. Supposed to be ready in 2014. It's now 2017. It's not yet ready. It's billions and billions and billions of dollars overbudget. It's going to wind up costing U.S. taxpayers $13 billion. Here's the question: Why do they always get it not always, but most of the time these defense contractors, they get it so wrong. They make promises. It's going to be delivered on time, but it's way, way delayed and way over budget.
[Fallon:] I think the problem is it goes way beyond the defense contractor in question here. And that is that the process in my opinion is broken. The acquisition process is badly broken. Has been for some time. So it's a rarity that you can find any program of whatever size that seems to be on time and on budget. It's one of my laments in service, trying to deal with this. But this particular piece of hardware is unique in that it's
[Blitzer:] This new aircraft carrier, new generation.
[Fallon:] The first one in 50 years. The Nimitz class carriers which, as you correctly pointed out, 10 in the Navy now, really designed back in the late '60s. The first Nimitz went to sea in the mid '70s. This technology, first time in 50 years but it's a lot more than just a new ship. We've there's certainly enduring value in these carriers. The average lifespan is about 50 years. And this particular ship has an entirely new reactor design, first time in 50 years.
[Blitzer:] And the president is being briefed on this, I'm sure, right now. But I know that he is very frustrated with these costs.
[Fallon:] Oh, sure.
[Blitzer:] He wants to work hard to make sure that the costs go down. I assume we might hear that?
[Fallon:] A great idea. There are all kinds of factors. One of them is building one at a time, which is what's going on of any ship is really a challenge. The other thing is the new technology that's being incorporated in this one is there's no more complex ship in the world than an aircraft carrier. This incorporates very novel features, such as the electric catapult. We've never done this before. Very interesting.
[Blitzer:] When he speaks, we'll be hearing a lot more. Let's see if he gets into the cost overruns and delays, as he has with a new Air Force One and new F-35, all these other programs.
[Fallon:] Show me a program that's on time and on budget
[Blitzer:] Admiral Fallon, thanks for being here. Thanks. And thanks for all the great work you've done.
[Fallon:] Thanks, Wolf.
[Blitzer:] Coming up, President Trump once again will be speaking very soon about the new aircraft carrier. Not yet ready, but will be ready, we're told, soon, the "USS Gerald R. Ford." Let's see if he addresses the issue of the attorney general controversy that's now erupted, contacts with the Russian ambassador to the United States, calls within his own Republican Party for Sessions to recuse himself from any investigations involving Russia. Republican Senator James Risch, a key member of the Foreign Relations Committee there you see him up on Capitol Hill he's standing by to join us live when we come back.