nd training overseas. Additionally, as an example of this new emphasis on domestic economic growth, when the Kingdom of Saudi Arabia was considering upgrading its commercial passenger jet fleet, President Clinton successfully interceded with King Fahd on behalf of the Boeing Corporation to secure the sale of their aircraft.
With the end of the Cold War and the disintegration of the Soviet Union came the desire to attain peace dividends in the form of reduced defense budgets and the rapid downsizing of the United States military force structure. The savings to be gained would help to fund certain domestic programs, such as reducing the budget deficit and funding a health care reform package. One significant security assistance program fell to defense cuts: the Special Defense Acquisition Fund. The Special Defense Acquisition Fund was not recapitalized for FY 1994 with the intent that new items would not be added to the inventory, that money from sales would be returned to the United States Treasury, and that once an item was exhausted from inventory, it would not be reordered. It is anticipated that the Special Defense Acquisition Fund will be defunct by FY 2000.
FY 1993 ended on a bright note in terms of the positive impact of Foreign Military Sales cash sales on the United States economy. Due primarily to major defense equipment sales to countries in the Arabian Gulf area and Taiwan, Foreign Military Sales sales topped $33 billion -- a record high. Those sales kept United States production lines open and defense industry employment up, especially for the great number of companies involved in the production of the F-15 for Saudi Arabia and F-16 aircraft for Taiwan, and the M1A2 main battle tank for Kuwait. Unable to sustain the prior year's sales level, FY 1994 saw a fall in sales to $12.9 billion, and sales have further dropped in these days of limited defense budgets to $8.6 billion by FY 1998, the lowest level in over ten ...