Welcome. Im delighted to convene this hearing. This is a very important topic and one i know the Ranking Member finds significant. Im happy to partner with her in exploring this subject. I also know the gentleman from North Carolina mr. Jones is attending the hearing with us today, therefore i ask unanimous consent that mr. Jones and any other Committee Members not assigned to this committee be able to participate in this hearing with understanding all members will be regulared for questions prior to those not it is tongue subcommittee. Without objection so order. This morning we continue the committees oversight dialogue with the department that began last week with the foundational testimony that general campbell laid out before the full committee. General campbell testified about the evolving security situation in afghanistan and the policy, strategy and posture required from our nation in toward develop, sustain and support the people and unity government of afghanistan well into t
[inaudible] go figure. Level of the attacks only get worse to will only get worse. I fear that they will be able to pull off a significant attack that has real financial consequences. If you just take the Public Information by private security companies, we know that nationstates have been on our Critical Infrastructure truth they are waiting to costeffective capabilities in case of a conflict. We have a penetrative it. We know they were successful. We know they were successful on getting into our financial networks, large financial institutions, not once, but twice. Is somebody at some point is going to decide to flip the switch. When they do, we will have a significant economic, catastrophic event. Actuallys we are just fat guys. That is a losing equation from always. I fear it would take Something Like that to get most members of congress to understand the real threat. That i will say stop the nsa spying on you. Because they dont silently. Because they dont spy on you. We are finall
Down. They have been overfunded 10 years ago, maybe underfunded today, but may become overfunded again. That is why when you are looking at it, youre looking at it as a longterm rate. So having some underfunding in is not a lar year problem, it is just what is going on overtime. So, you know, there was a law passed in 2006 that tries to put in more s to money into pension plans. They say that if they put in more money, then that takes away from some of their profits, and other things they could be doing. And there is a balancing act between putting in enough money and putting in too much money. So that is what washington is dealing with. Host we appreciate you coming on. Guest thank you so much. Host coming up next, the of the attorney general a new states, he has book a conservative and compassionate approach to Immigration Reform. Well be talking about that. Here are some of the programs you will find this weekend on the cspan networks. Evening at 8 00 pm, political reporters share s
Fourth tiers, that has already begun to happen. And major contractors have said that the furloughs were triggered because the Defense Contract Management Agency was furloughed. And so the contract inspectors, some of the technical inspectors, werent there. And also that some of the government facilities had not opened up, some of of the governmentowned contractor operated facilities but even the most of the civilians are back at work and some companies are still gone ahead and furloughed or laid folks off. Why is this the case, that this is where companies are trying to bank savings for the future that they understand that deep defense cuts are companying or driven by what is happening . I think it is a combination of both. But what youre really seeing is the result of uncertainty. With unpredictability and uncertainty in the market, sue more conservative tism. It is a cascade effect. Where you saw it in week one, and you see it at the second tiers in week three and third and fourth ti
Theres still some risk so i still feel like i felt coming in although the picture may be a little better but wed like to come back quarterly and just let you know how were doing. Now, the blue line that we show, if we were unable to do anything and just use the cca money and also do the half cent increase in the general fund, you will see in the outer years well be in trouble and the dotted blue line wed be on the 15 percent that line represents the 15 percent reserve policy that we have so that we can borrow money and we will be on the black line if were able to save about 8 million a year and so the challenge that we have is you know not only with the ia negotiations mountain tunnel but were also aggressively looking for other customers and really defining our Business Plan plan and thats one thing that were working on as a group but id like todd to come up and go over more details. So thank you general manager and Todd Rydstrom assistant general manager for Business Services and als