Richard Shelby

Every aspect of the program I believe must undergo significant revision for it to survive and to continue on a sustainable path.

Today the program is nearly $18 billion in debt and has problems even servicing that debt.

The National Flood Insurance Program was established in 1968 and was designed to reduce the burden on taxpayers stemming from Federal disaster relief for floods.

I just want to associate myself with your remarks here. I think this has been a good hearing.

I worry, am concerned at times that the arrangement could dilute Army control over these critical systems or even put their budgets at risk.

Is there any reason to delay funding for procurement of the GBI boosters?

I too would join you and Senator Cochran in welcoming General O'Reilly and we look forward to his testimony.

If we have an adequate partner in New Jersey Transit, we can make progress on expansion.

The program's goal of encouraging innovative financing and speeding project delivery through the program has not been achieved, I believe.

Now, you asked another question, and that is as it relates to the New Starts program and whether we should be expanding the footprint of these agencies when we know they are not adequately investing in their current footprint.

And what does that mean by monitoring? I know that is like oversight, but----

Does the Administration believe that the Federal Government should continue to make investments in new or expanded fixed guideway systems without a state of good repair requirement?

I am also concerned that we continue to make investments--and I mentioned this in my opening statement--in infrastructure without any state of good repair requirement.

The Administration's budget, as I understand it, proposes a 128-percent increase in funding for public transportation.

Setting aside for a moment the specific issues related to the transit title of the authorization bill, I want to speak briefly about what I believe is the most significant issue surrounding the reauthorization of SAFETEA: the solvency of…

I believe this needs to be changed.

I believe we need to work together on a reform effort that will promote greater efficiency and effectiveness in public transportation systems across America.

Does the Army currently have a detailed plan for how the $105 million will be spent?

The DOD is proposing several changes to the military health system that could go into effect as early as October of this year.

I am concerned that Patriot and IBCS which, as you have said, are critical to our warfighters in performing well, could be used as bill payers for programs that MDA considers a higher priority.

Unfortunately, Dodd-Frank provides little guidance on exactly which firms should be designated for systemic risk regulation.

Dodd-Frank established the Financial Stability Oversight Council and charged it with monitoring risk in the U.S. financial system.

Today's hearing will examine the difficult task of defining and regulating systemic risk.

We would all benefit from that, wouldn't we?

Oh, quite intensively.