The good senator illustrating the noisy wheel syndrome. Ken Thompson's reflections on trust have been repeated over and over again, and is now a mainstream meme. But the fact that it's a often repeated common meme doesn't mean it's a practical threat. I'm not aware of it ever being responsible for an actual security breech. That's pretty significant - because there must be thousands of breaches each and every day. That isn't surprising, as it would particularly difficult for open source GNU, LLVM, and Rust because people are literally compiling code and comparing the assembler output to the previous versions.
He probably also isn't aware of how large computer companies like Facebook operate. Again, a single failure doesn't effect them like a single in a fighter plane. In fact a chaos monkeys that randomly knock out bits of production infrastructure are a useful technique for them. I'm sure the senator it thinking in terms of a chaos monkey randomly knocking out engines, airfoils, and computers on a flying plane.
The quality of compiler is a concern - but it is one the software engineer will be well aware. Asking a software engineer if he is sure of the quality compiler he is using is like asking a racing driver is he concerned about the quality of fuel he is using.