Guarantees are perilous. Governments are not very good at doing them, not very good at designing them, not very good at pricing them, not very good at limiting the moral hazard risk that comes with them.
Senator Shelby quotes Secretary Geithner on the risks of government guarantees.
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A lot of people, including this Senator, believe that the request is not enough considering the problems in the world.
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.
I remain concerned that the Air Force budget request is insufficient considering the needed modernization across the inventory with a rapidly evolving threat.
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