Other countries in the region are not spending massive amounts on defense. Although, australia and japan have committed to increase spending, particularly on maritime capability. Generally, were seeing a reduction in the resources of the u. S. And its potential Coalition Partners and an increase overall. So the task of managing this challenge and monitoring it is becoming greater. Then as i said, were seeing gaps in capability. Notwithstanding the u. S. Rebalance, there are limits to resources in terms of humanitarian assistance, in terms of amphibious capability, in terms of assets, undersea assets. The u. S. Attack submarine fleet actually around the mid 2020s will start to get smaller, not larger, for example. And gaps in cyber, Missile Defense and Maritime Security more broadly. For that reason, i really chose to focus my paper on Maritime Security and how we can take the framework of federated defense and start to actualize it in terms of real capability. In the region. Then i nar
Today, we will address a very important question is there a student debt crisis . In many of us are well aware of the everexpanding student loan market and the latest estimates are that nearly 40 million americans are laden with 1. 3 trillion worth of student ebt. One in four of the borrowers is either in delinquency or default. Last years graduating class had an average of 35,000 in student ebt. Those are striking numbers. The Obama Administration recently announced two policy changes and president ial candidates have focused on a variety of alternatives of ways to lower the debt burdens. Todays speakers are two leading voices on student debt. Rohit chopra was recently named special adviser to the u. S. Department of education. He previously served as the assistant director of the Consumer Financial protection bureau. He led that agencys work on behalf of students and young consumers. The secretary of treasury named im as the agencies First Student loan ombudsman. He has frequently te