On Tuesday, May 15, join the American Enterprise Institute, the Center for a New American Security and the New America Foundation to discuss an issue sure to face the next president: U.S. defense spending in light of American grand strategy.

For most of 2012, President Obama has been running in the Democratic primary. I know that seems odd, given that he’s essentially running unopposed. But that's not what I'm talking about.

It’s depressing to watch, but it is missing the point that the Volcker rule would not have prevented the loss and is probably unworkable.

When he was director of central intelligence, Leon Panetta earned a reputation as an energetic advocate for his agency. When he replaced Robert Gates at the Pentagon, it was reasonable to hope that Panetta would continue to play the role of a senior statesman.

Moreover, most allies haven't a clue how the pivot will manifest itself and what role they should be playing. If a "pivot" means anything, it is at the least keeping security commitments. Now Obama has made one -- helping Taiwan close the "fighter gap."

Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank's misfortune for their own gain.

2012 looks to be an interesting year for the already complex political triangle among the United States, Taiwan and China, what with each country undergoing political transitions. Should we expect policy continuity from President Ma Ying-jeou and the likely new Chinese leader Xi Jinping? What about continuity in the United States?

It’s going to be bait and switch for as far as the eye can see. That’s how it looks now that the smoke has cleared after the recent “Mommy War” skirmish over Democratic operative Hilary Rosen’s comment that mother of five Ann Romney had “never worked a day in her life.”