What the hell is the government doing wasting $1.45tn on a pile of junk - the new F-35 plane?

The government plan to spend $12.6bn ever year from now until 2037 on buying new F-35 planes.
The F-35 is markedly INFERIOR to the existing F-22 Raptor and is plagued by problems.
Even John McCain has called the F-35 a total waste of taxpayer money. Why hasn't Obama stopped it?

The $12.6bn a year the government is planning to continue to waste on the F-35 plane.
http://www.reuters.com/article/2013/03/11/us-lockheed-fighter-report-idUSBRE92A13R20130311

Winslow Wheeler, at the US Center for Defense Information described the F-35 programme as a “gigantic performance disappointment”, which was not even as stealthy as the F-22 Raptor.

He added: “It’s the counterintuitive problem of paying a huge amount of money thinking you’re getting a Lamborghini or Ferrari: You’re not, you’re getting a Yugo (the cheap, mass-produced cars made in the former Yugoslavia).” 

http://www.telegraph.co.uk/news/uknews/defence/9813125/Lightning-will-ground-F35-fighter-jet-known-as-the-Lightning-II.html