Bill Clinton: “The head of naval research was here today with me, Admiral Pelaez. He made the point that in a very profound way, this…”

“The head of naval research was here today with me, Admiral Pelaez. He made the point that in a very profound way, this program we announced will help to keep our defense strong, because we know that the defense budget's going to be reduced. This program will help to use the commercial research and development sector to keep the defense technology strong, even as we're using defense technologies to create jobs in the commercial sector. That is, by putting the two together, we'll be able to get a bigger bang for our defense dollar. So that even though there will be some reduction in defense spending, we'll be able to keep ahead of all of the other countries in the world and as far as we need to be on technology. Mr. Culea. Could you give us an idea of the control of this money in some defense contractors? Jobs have been cut, profits go up, and then bonuses are given to top executives. What about the control of the money going to these firms?”