An amendment in the nature of a substitute consisting of the budget recommendations of the President. The amendment sets FY 1993 domestic discretionary spending at roughly the levels established by the 1990 budget agreement and reduces defense spending by $7.4 billion in budget authority and $4.8 billion in outlays below the levels called for in the budget agreement. Entitlement spending would be reduced by $32.2 billion over five years by a series of cuts, including $13.9 billion in Medicare cuts. The amendment anticipates a net revenue loss of $3.6 billion in FY 1993 as a result of proposed revenue losses of $11.9 billion, partially offset by proposed revenue increases of $8.2 billion.