[CentOS] /etc/hosts missing localhost?

Is there any reason why /etc/hosts would be missing the line,
127.0.0.1 localhost?

I just spent an hour trying to figure out why I could not connect
to postgresql using ``psql -h ...'', finally figuring out that
the /etc/hosts file was the problem.

Bill
-- 
INTERNET:   bill at celestial.com  Bill Campbell; Celestial Software LLC
URL: http://www.celestial.com/  PO Box 820; 6641 E. Mercer Way
Voice:          (206) 236-1676  Mercer Island, WA 98040-0820
Fax:            (206) 232-9186

To say that UNIX is doomed is pretty rabid, OS/2 will certainly play a role,
but you don't build a hundred million instructions per second multiprocessor
micro and then try to run it on OS/2.  I mean, get serious.
    -- William Zachmann, International Data Corp