For early 2025, the wave of U.S. and European elections brings new leaders and major overhauls in defense and security priorities. That means new levels of spending, support, and capabilities for NATO allies and partners – including for defending Ukraine against Russia. It also means new budgets, new choices for low-tech wars in Europe, high-tech conflict and competition in the Pacific, and more. Meanwhile, the U.S. will be forced to make hard choices on equipment to expand and modernize. Join