I always relate national debt loads to family debt, where if you are in debt over your head, how are you going to grow your personal economy?

Certainly, getting at the early retirement system is going to be core for any sustainable solution in Greece.

Let us keep the energy prices low.

I was rather shocked at the result.

The mandatory spending programs, the pensions in Europe, we call them entitlements here, Dr. Kahn, you said that was 16 percent of Greece's GDP.

They are in such deep trouble. The deep recession of 2009, that was basically the catalyst for the ongoing crisis.

Talk a little bit more about what I would consider the possibility or almost certainty of the misallocation of capital when you have unrealistically low interest rates, how you do chase yield, how you end up putting money into high-risk…

I mean, they could be doing very well if they had better policies.

Our tax system is uncompetitive.

America's primary strength, number one, is that we are the world's largest market.

We have to understand it. One of the reasons I throw it out there is you have to simplify what it is that we need to do, so people understand.

One of the things we did, we held a hearing in our Homeland Security Committee with CBO Director Hall, and we have converted to dollars their long-term fiscal scenarios and the alternate fiscal scenario.

Can you describe what happens, why it is such a big deal?

Again, we like those indicators improving for America.

a deficit projected over about $103 trillion. Talk about unsustainable.

But their debt was not at----

The important emphasis for you, given the committee's jurisdiction and our general interest in this strong, vibrant, global economy, is the United States should be involved in those decisions because ultimately, cumulatively, they can have…

spending money on a facility that will not meet our needs, that does not allow us to train with the military on a military-type training base, is not what we need for the future.

I want to make sure we are doing the right thing by our taxpayers and providing high-quality training for our men and women.

Thank you, Senator Carper.

And we have known absolutely this for decades, publicly since at least 2004 with these EMP Commissions, and we have done virtually nothing.

But we can protect ourselves against something like the Carrington Effect, the 1921 effect, and we can do that for a relatively low cost.

But let us at least protect ourselves from GMD in a more robust fashion where it does not cost very much.

Again, so what I am going to try and convince our Ranking Member is to join me in authorizing up to $100 million to quickly install these as a first step.

It is just a shame, it is just unconscionable we did not.