All of us want to cut frivolous spending. It's obviously not something government can manage no matter who is in charge. I've seen this on a much much smaller scale where I worked.
A problem in dealing with defense contractors like Lockheed or Boeing is that if you really held them to account on the "F-35" and it's ilk, you'd put them out of business. They bid on some project, and may underbid, and maybe build a couple prototypes that get accepted, and then the cost turns out to be 2-3-4x.
The US spent more money on the B-29 project than the Manhattan project. And we didn't have any other bomber at the time able to lift the atomic bomb and carry it those distances.