 The Chief of Naval Operations addressed the House Armed Services Committee February 13th on the potential impact of sequestration and the lack of a new approved defense budget for fiscal year 2013. We will operate forward where it matters at the maritime crossroads of the world and that they will be ready when it matters. This remains our mandate. Your Navy and Marine Corps are uniquely qualified to respond immediately to crises to assure allies, to build partnerships, to deter aggression and to contain conflict. But these qualities and their value are a great risk by the fiscal uncertainty that we now face. Although our primary concern with sequestration and the lack of an appropriations bill is the impact they have on the readiness during this fiscal year, make no mistake it's going to have an irreversible and debilitating impact on Navy's readiness through the rest of the decade. We will not be able to respond in the way the nation has expected and depended and we should make that kind of decision consciously and deliberately. Greenert also said that in order for the Navy to continue being ready when and where it matters, Congress must act fast as the ramifications will be felt at a minimum through next year. The impacts of funding that we realign today will cascade into the future years. The $8.6 billion shortfall confronting us in operations and maintenance has compelled us to cancel ship and aircraft maintenance, reduce operations, curtail training for forces soon to deploy and plan for the furlough of thousands of civilians. From the Defense Media Activity, I'm Petty Officer Matthew Halls.