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.

Gov. Bob McDonnell (R-Va.) has long been on almost everyone's short list for the Republican vice presidential nomination. But now McDonnell's national security credentials have come into question, thanks to his mishandling of a bill passed by the Virginia General Assembly.

Take a look at the trajectory of US spending on defense and entitlements in the coming decade and how it has changed in the past four years.

In a unique collaboration, the American Enterprise Institute, the Center for a New American Security and the New America Foundation are pleased to invite you to the next event in the "Election 2012: The National Security Agenda" series in this presidential campaign season.

This event is the first in a series of four campaign-season seminars on the critical issues of U.S. foreign and defense policy.

The U.S. military faces a readiness crisis - one confronting not just its people and end-strength cuts - but pushing equipment to the breaking point. Across all services, long-standing readiness problems are worsening and breakdowns are happening more frequently.

Immediate 23% cuts in weapons programs and military construction projects would require not just reductions in expenditures that could be ramped back up late, but wholesale cancellations of vital projects.