. >> myuestions are all going to be answered by doctor alex rubin. >> last week, jim baker and alex rubin made it clear that the fiscal trajectory and debt are very dangerous to our nation and a u.s. debt crisis is a real possibility. in a few minutes, we will hear from former secretary bob gates and admiral mike mullen on their view of the implications of our current this call outlook. we look forward to that testimony. in our second panel, we will hear from former u.s. senator alan simpson, bowles, former chairman pete deminici, and former budget director. they will present their findings and recommendations of their bipartisan panels which were separate undertakings but came to broadly similar conclusions about the steps that must be taken in response to our fiscal challenges. i am confident that both are panels will address the subject of sequestration. which by law will occur at the beginning of next year. i hope our discussions will not just include this legitimate concern but will also engage in the much broader and long term but the central structural problems and challenges that