He said that, yes, but who know what he meant. Perhaps he meant the lifetime costs. Perhaps he just made up a random number for propaganda reasons in accordance with the current administration's GAAP.
One interesting note about the cost estimates is that years ago, when the Navy was predicting $800M per ship, the CBO was estimating $1.2-1.4B. The Navy's cost estimates rose over the years, and the CBO eventually reduced the upper bound of their estimates, with both parties converging on $1.1-1.2B in the latest documents from each organization. At this point, a sudden jump to, say, $2.0B per ship would be surprising.
But this is what I never understood. How is it that the Constellation could be less than half the cost of a Flt III Burke yet still come with so much equipment?
AMDR: $226M APUC
EASR: $48M APUC
The cheaper radar gets us from $2.7B to $2.5B. Now, how do we get from $2.5B to $1.2B?