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<br />As Larry pointed out, usually we heaved <br />a sigh of relief when a project was auth- <br />orized to get the first moneys appropriated. <br />It was always a problem until the first <br />money was appropriated but historically, <br />until chatfield came along, once a project <br />was started it was completed. It might be <br />slowed down but there were no stops. The <br />rising cost of inflation does make it <br />ridiculous to stop or stretch out projects <br />because inflation just kills you. <br /> <br />I <br /> <br />As you all know, we have something <br />like $5 billion worth of water resources <br />projects (when you take the Cor~s and the <br />Bureau together) which have been author- <br />ized. At the present rate of appropria- <br />tions of about $250 million a year to each <br />agency, it will take ten years to build <br />the ones that are presently authorized <br />if there were no inflation, without any <br />new starts. You've got another $5 billion <br />in the pipeline of projects that ought to <br />be constructed but aren't even authorized <br />yet. It just seems to me unrealistic for <br />us to continue to look to federal funding <br />for these projects, to look solely to that. <br />I think it behooves us as a Board to take <br />a good hard look at some other alternatives <br />which might turn up some money to build <br />these projects. If we have to live on the <br />level of appropriations that we have been <br />getting, even if there were increases to <br />take care of the cost of inflation - which <br />we don't see forthcoming - our western <br />water projects just are not going to get <br />built. I think this is a very serious <br />situation. <br /> <br />That's all I have, Mr. Chairman." <br /> <br />MR. STAPLE'l'ON: <br /> <br />"Thank you, Ray. <br /> <br />I <br /> <br />Larry, did you have any further com- <br />ments?" <br />