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The U.S. military force structure envisioned by the 2010 Quadrennial Defense Review and the President’s FY 2012 budget request is inadequate to protect vital U.S. national interests. After the “procurement holiday” during the 1990s and the wear and tear of the “long war against terrorism” in Iraq and Afghanistan, all military services urgently need to recapitalize and modernize their inventories. Over the long term, failure to invest the funds needed to rebuild the U.S. military in the near term will increase not only the costs, but also the risks to the nation and endanger U.S. allies and friends.