Richard Shelby: “Do you believe that derivatives, as we speak, play, overall, a positive role in the international economy?”

I am concerned about this--what this communicates to both our allies and our adversaries.

As Senator Shelby at our Senate testimony hearing last March pointed out to us, we must maintain what we have before we can build new, and I think he hits the mark head-on.

The Department of Navy has played and will continue to play a critical role in the defense of our Nation.

We have got to get our arms, one, around the inflation first, and then try to boost our defense capabilities in a dangerous world.