President Signs $263.8-Billion Defense Measure
President Clinton signed a $263.8-billion defense spending bill Wednesday that authorizes another aircraft carrier, three guided-missile destroyers and six C-17 airlifters.
It also authorizes development funds for a new attack submarine, the F-22 fighter, a Marine V-22 tilt-rotor troop carrier and a new Army reconnaissance helicopter.
The measure, which Clinton said will provide for a strong national defense, represents a $2.8 billion increase over the 1994 fiscal year, which ended Sept. 30.
Adjusted for inflation, however, that translates into a defense spending cut of slightly less than 1%, marking the 10th consecutive real decline in the defense budget. In all, 18% of the total federal budget would go for defense under the new law.
The measure encourages but does not order Clinton to lift the international arms embargo over Bosnia. In a statement issued after the signing, Clinton said he interprets the legislation as leaving “flexibility to calibrate our actions as events develop.”
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