Mark esper, secretary of the army. Heather wilson, secretary of the air force, and james gurts, assistant secretary of the navy for Research Development and acquisition. Acquisition reform is one of the most important and frustrating topics this committee addresses. For years, we have been warned that america is losing its technological advantage. I hope you all have seen the work by rand on this topic. That is why the department of defense needs acquisition reform. Not just for efficiency or to save money. Simply put, we will not be able to address the threats facing this nation with the system of organized irresponsibility that the defense acquisition enterprise has become. I want the witnesses to Pay Attention here, okay . Were still dealing with a trilliondollar f35 program that continues to operate in dysfunction. The air force still subsidizes ula for space launch with costplus fixed fee contracts. The army has sunk nearly 6. 5 billion into wint. And that work that doesnt work. A
The Senate Arms Services Committee Meets today to receive testimony on the acquisition reform efforts. We welcome our witnesses, ellen lord, mark esper, secretary of the army, heather wilson, secretary of the air force, and james gerts, assistant secretary of the navy for ak we ziglaskk acquisition. I hope you all have seen the work by rand on this topic. That is why the department of defense needs acquisition reform, not just for efficiency or to save money. Simply put, we will not be able to address the threats facing this nation with the system of organized irresponsibility that the defense acquisition enterprise has become. We will be watching closely to make sure you do business differently and use that authority wisely. Second, while we have empowered the services, that doesnt mean you can go and do whatever you like. The Services Must let osd set strategy and policy and do real oversight. That means being transparent, providing data to and following the guidance set by osd. Agai
6. 9 trillion and we will hit the 7 trilliondollar mark. I have been covering money for 40 years and i have never seen a runup like this. They all combine to create this extraordinary rally and it continues today. I hope youre able to follow it from the comfort of your home because the weather along the eastern sea board is just plain terrible, the bomb cyclone, the bombo genesis, carolina, virginia, a blizzard by any other name and brought onethird of a country close to standstill. We offer a unique opportunity, sit back andat w dow 25k and th bombo cyclone, Varney Company is about to begin. Stuart liz peek with bombo cyclone glasses. Look at futures, we are going to go up 100 points in the opening bell. We should cross 25k. If those futures, quote, stand, we will hit 25k in approximately 27 minutes and 40 seconds. By the way, we just learned that 250,000, a quarter million new privatesector jobs were created in november, thats a big number, a very strong economic indicater. Lets take