Last week, the Australian government released a discussion paper on defense. As in other mature democracies, it's not easy to sustain support for defense spending when no threat is imminent. But Australia's U.N.-authorized intervention in East Timor last year showed the risks of seeking defense on the cheap.

Defense spending having fallen below 2 percent of GDP, Australia proved unable to deploy fewer than 5,000 soldiers just off its northern coast without significant U.S. logistical support. Many of its major defense platforms also face obsolescence.

Unless the country develops and maintains a serious defense force with cutting-edge capabilities, it will lose credibility as a U.S. ally. That could be important if George W. Bush becomes president next year. The Republicans are likely to take a dim view of allies unable to make more than token commitments to military operations in defense of shared interests -- for example in the Persian Gulf or the Taiwan Strait.