The document discusses several risk governance deficits: 1) Failure to consider social factors that influence risk acceptance, such as equity concerns and who bears the risks. This can increase the number of people exposed to risks like radioactive waste storage. 2) Inability to anticipate surprises and risks outside accepted paradigms, like the 9/11 attacks. More sophisticated risk modeling is not enough - creativity is needed to deal with the unexpected. 3) Lack of flexibility in responding to unexpected risks due to reliance on past responses, limited resources, and prioritizing efficiency over redundancy. This hampered response to Hurricane Katrina and the Y2K problem.