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Obama Signs Defense Bill, Pledges To Cut More ‘Waste’

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By Emelie Rutherford President Barack Obama decried wasteful Pentagon spending yesterday as he signed into law a defense authorization bill he said "isn't perfect." The fiscal year 2010 National Defense Authorization Act--a policy-setting law that authorizes but does not officially appropriate Department of Defense spending--supports the F-35 Joint Strike Fighter's alternate engine, an engine program Obama's administration wants to end. Yet the new act ends authorization for other programs Obama and Defense Secretary Robert Gates oppose, including Lockheed Martin's [LMT]…

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