IMPACT OF NATIONAL DEFENSE EXPENDITURES ON INTERNATIONAL COMPETITIVENESS.

SEC. 5423. IMPACT OF NATIONAL DEFENSE EXPENDITURES ON INTERNATIONAL COMPETITIVENESS. (a) Findings.—The Congress finds that the ability of United States industries to compete in world markets may be adversely affected by the following factors: (1) The allocation of intellectual resources between the private and public sectors. (2) The distribution of innovative research and development between commercial and noncommercial applications. (3) The number of scientific advances which are ultimately commercialized. (4) The cost of capital which is affected by many factors including the budget deficit and defense spending. (b) Sense of Congress.—It is the sense of Congress that the President should evaluate the impact on United States competitiveness of— (1) the defense spending by foreign countries, particularly Japan’s expenditure of 1 percent of its gross national product for defense compared to the expenditure of the United States of 6 percent of its gross national product, and (2) the other factors listed in subsection (a).