As Congress readies a critical funding bill, House Speaker Paul Ryan (R-WI) sat down with Fox News’ Jennifer Griffin to discuss the need to rebuild our military and the devastating consequences of a readiness crisis. Watch the interview here and check out excerpts from the transcript below.

Jennifer Griffin: “Last Thursday during a routine landing, the nose gear failed on an Air Force C5 transport plane in Texas. The plane skidded on its belly to stop. Just last summer, the Air Force grounded its entire C-5 fleet. House Speaker Paul Ryan says if defense spending isn't increased...it will get worse.”

Speaker Ryan: “Just last week, we lost two F-15 pilots off the coast of Florida. We lost seven of our troops in a helicopter crash in Western Iraq. This is in many ways because of training accidents because of our military budget.”

Speaker Ryan: “When I became Speaker I got access to all the classified briefings that a president gets, to see exactly what our military is experiencing and I’ve been absolutely convinced that we have been doing a disservice to our men and women in the military with the budgets they’ve been getting."