Bill Clinton: “I want to welcome you to the first of five White House briefings on the Technology Reinvestment Project, a key part of…”

“I want to welcome you to the first of five White House briefings on the Technology Reinvestment Project, a key part of my defense reinvestment and conversion initiative. I'd like to thank the organizations that are hosting this event, the Northeast Midwest Institute and the New York Academy of Sciences, as well as the 10 States that are participating. You're in good hands today with Energy Secretary Hazel O'Leary and our science adviser, Jack Gibbons. They're here to kick off the event. A superb team lead by Gary Denman, the Director of the Advanced Research Projects Agency, or ARPA, and Fred Bernthal, Acting Director of the National Science Foundation, will fully brief you on the Technology Reinvestment Project and answer all your questions. With the collapse of the former Soviet Union and the end of the cold war, we've been undertaking substantial cuts in defense expenditures, and they will continue while still maintaining a flexible and effective military force. Now we can turn our attention to other national needs. But the adjustment to lower defense spending is still painful for many communities and workers and firms. An estimated 60 percent of the total loss in defense-related jobs between 1991 and 1997 will occur in only 10 States. Those of you here today represent communities and companies that face the challenges of moving to a civilian economy. Defense conversion is one of my highest priorities. It's one of the reasons I ran for President in 1992.…”