This seems to be common in the defense industry: overpromise and underdeliver, because they know good money will be thrown after bad in an attempt to finish a bad project once they get the contract.
Is there any evidence that Rumsfeld was more effective at managing budgets than other Secretaries of Defense? He liked to talk big, but he talked big about Iraq and was a complete failure and liar (including on the budget).
Gates did a lot, canceling Cold War era projects such as the F-22 rather than throw good money after bad, especially with the U.S. fighting two insurgencies (for which advanced fighter planes were a waste). His successor Ash Carter refocused the Defense Department on planning and developing for future warfare, especially in the 'cyber' domain.