The density of Tungsten is ~19.25 g/cm^3. The density of the Earth's crust is ~2.2 g/cm^3
It's going to penetrate (19.25 / 2.2)*L ~= 7.5 times it's length.
This appears to be missing a factor.

For example, according to this calculation, the rod will penetrate exactly the same depth at 10mph and MACH 10, because its velocity is not taken into account. I only see density and length being considered.

What am I missing here?

It's at least plausible that these things could be up there.
Um, really? They could afford to take these things up there? My skeptisism is evaporating.

Since when has the US military let a little funding slow them down?
I wasn't thinking of a "little" funding, I was assuming it would cost a ridiculous amount.

Your argument amounts to saying "Since they're evil, they're definitely doing every evil thing that I can imagine."
Not at all. I haven't accused the oil companies of the recent terrorist attack in Nice. All I've accused them of in this thread is stifling energy technology, which is something they would have a vested interest in doing.