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Of quick words before turning things over to travis to highlight his report and field your questions. Two things i want to mention. First, this is an important event here for a set csba. Defense corps analysis is something we have done for decades, uniquely well, and travis, the author of this report, is the latest in a long line of talented Defense Budget analysts who have spearheaded these efforts for us over the years. Notenk it is important to the Defense Budget analysis we do here is not just about notcting Defense Budgets, just about going line by line to understand precisely what is in the budget, but assessing and analyzing budgets whether budgets match strategy or they dont. Right now, we have an interesting situation where 18 months ago the department of defense released its National Defense strategy which called for a significant reorientation on the part of dod. Focused on highend conventional great powernst competitors in europe and east low intensityhan conflicts against

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