Peace dividends.

• Position: Defense spending growing - Editorial

Remember the $540 million we saved by terminating the program to build Seawolf-class attack submarines in fiscal 1992? Well, the latest military-spending bill authorizes the expenditure of $540 million for either of two purposes: (1) preserving the industrial base for submarine construction, or (2) settling claims arising from the termination of the Seawolf program.

"Gotcha!" has got to be the gleeful refrain in "defense"-industry circles.

And that's not all.

[paragraph] The bill, according to the Congressional conference committee's report, "will allow for the orderly termination of the B-2 [bomber] program." That will only cost $1.7 billion this year - $790.5 million of which is for research and development. The rest goes toward procurement of five more B-2 bombers. Ever watchful of our dollars, the bill establishes a "cost cap" for termination of the B-2: $44.4 billion.

[paragraph] The House bill authorized $222.4 million for nuclear testing, while the Senate bill provided $375 million. "In light of the President's extension of the nuclear testing moratorium," the conference committee reports, "the conferees agreed to provide $217.4 million to support the readiness of the Nevada Test Site to resume testing, if necessary, at a future date."

In another...