Ok folks here are some important facts, you might not read in these blogs and in the press.

More fighter for less money? I was always taught you get what you pay for. It is delusional to think there is a better option. Here is why:
We have committed to pay 8.7 billion for 65 planes, (133m each)for the F-35. The F-22, a better plane by some standards is unobtainable. No one aside from the US has been able to procure this plane. Besides, what kind of hysteria would we have if we were paying 250 million for each f-22 instead of 133 million for the F-35?

And finally, the sole sourcing issue is profoundly disingenuous. The whole process with many countries getting together to develop a plane for a cost of 300 billion is rich even for the trillions the US has been throwing around lately.

Yes, Lockheed isn't a Canadian company. Neither is Crysler or GM. But Canada makes lots of parts for all of them. Stronach and Magna come to mind with his billion dollar handshake.

I posted this earlier: http://www.nytimes.com/2010/07/17/business/global/17fighter.html

Its an article from the NY Times.

Lockheed is on record it expects to spend 10 billion dollars in Canada.
We pay 8.7 billion, we get 10 back.

The reason is, Lockheed expects to build and maintain 3,000 of these.
We buy 65 but get to supply parts for 3000. Its an incredible deal.
Employment for over 100 Canadian companies, high-tech jobs, great wages, big ripple effects, and yes even taxes garnered.

I am truly puzzled why we aren't ecstatic about this

I don't care what sort of procurement experience you claim to have so boldly on a blog no one can check out. The math really is quite simple.