In this episode of "Deterrence Down Under," hosts Carl and Christine delve into the complexities of defense spending, particularly focusing on the challenges faced by Australia. They discuss the balance between immediate, near-term, and long-term defense investments, highlighting the strategic decisions involved in allocating resources for current capabilities versus future advancements. The conversation touches on Australia's commitment to the AUKUS pact, the impact of budget constraints on defense readiness, and the importance of missile defense in maintaining national security. They also explore the broader implications of deterrence strategies and the role of integrated defense systems in ensuring stability.