Mr. Speaker, recently officials were evasive when I asked how they were accounting for inflation in the shipbuilding contract. Now we learn that their assumed inflation rate is 2.7% versus an industry rate between 7% and 11%. This huge inflation gap shows gross financial incompetence by the government and would add at least $14 billion, or 56%, to the total cost of the ships.
Does this mean that we will get way fewer ships, a massive budget overrun, or both?