Richard Shelby: “It is like those kinds of loans were a recipe for a disaster.”

Regrettably, this was all predictable and avoidable.

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.

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

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