As President George W. Bush enters his final month in office, Leslie H. Gelb, a former high-ranking national security official who served ten years as CFR's president, assesses the Bush administration's legacy. It "drained and lessened American power in the world," he says, and as a result U.S. credibility in the world "was sorely damaged."

Listen to experts discuss the recommendations of the new report Restoring the Balance: A Middle East Strategy for the Next President, advocating a new approach in the region, focusing on the Arab-Israeli peace process and Iran's nuclear program.

Watch experts discuss the recommendations of the new report Restoring the Balance: A Middle East Strategy for the Next President, advocating a new approach in the region, focusing on the Arab-Israeli peace process and Iran's nuclear program.

The launch of the joint Council on Foreign Relations and Saban Center book Restoring the Balance: A Middle East Strategy for the Next President, a series of policy recommendations for the next U.S. president pertaining to U.S. strategy in the Middle East.

TIME examines Obama-Biden transition team's possible selection of Sen. Hillary Clinton (D-NY) as secretary of state.

Journalist Bruce Stokes looks at foreign policy challenges facing President-elect Barack Obama, including the wars in Iraq and Afghanistan and an American public that has "turned sharply against international engagement on a range of issues that American voters once supported and on which foreign publics expect action."

Republican presidential candidate John McCain gave this speech In Arizona on November 4, 2008 on the night of Obama's presidential win.

President-Elect Barack Obama gave this speech in Chicago, Illinois after winning the presidential election on the night of November 4, 2008.

A guide to CFR resources examining U.S. foreign policy priorities and the presidential race.

James M. Lindsay, an expert on U.S. foreign policy, and a former director of studies at the Council on Foreign Relations, discusses the first presidential debate between Senator John McCain and Senator Barack Obama.

The next U.S. president will face a more difficult opening-day set of global problems than any of his predecessors since World War II.

From the September/October 2008 issue of Foreign Affairs: The next U.S. president will face problems that will require strength and a renewed sense of national purpose to solve.

Barack Obama will be given a euphoric reception this week when he speaks at Victory Column in Berlin.  But in this Bloomberg article, Amity Shlaes argues that the Berlin cityscape reminds us of the limits of Obama’s foreign policy and that sometimes you encounter war even when you don’t want to.

James Goldgeier and Derek Chollet remind America’s European friends that they should not be lulled into thinking that the exit of President Bush will mean that all of the tough problems will be solved and the hard work will be over. In fact, the work is just getting started.

In February, Martin Indyk and Richard Haass engaged leading Gulf policymakers in detailed conversations about what they are looking for from a new American president. While all those with whom they spoke were fascinated by the American presidential primary elections and seem to be following the results closely, few have yet focused on the possibility that a significant change in U.S. foreign policy might result from a new administration in Washington. There was also a significant disconnect between leaders and publics: The leaders are focused on how the next administration will deal with complex regional security challenge posed by Iran, whereas the publics are hoping that a new president will resolve the Palestinian issue and press authoritarian governments to be more open, transparent and accountable.

Bruce Riedel traveled to India in February to meet with business leaders, government officials, and members of the media. Riedel notes that much of the conversations revolved around Iran's pursuit of nuclear capabilities and the Iran-India relationship. Some in the United States have strongly criticized India for maintaining strong economic relations with Iran and for having exchanges of low-level military delegations. Riedel notes that although India opposes a nuclear Iran, its ties with Iran will lead it to oppose use of a military option against Iran.

Daniel Byman traveled to Israel and Jordan in March -- a time of crisis in the Middle East. During Byman's trip, Palestinian militants in the Gaza Strip fired rockets against the Israeli cities of Sderot and Ashkelon, an attack occurred in the Mercaz Harav Yeshiva in Jerusalem, and Israel took retaliatory measures in the Gaza Strip. In both Israel and Jordan, Byman found that the predominant mood was one of frustration and gloom. Israelis felt trapped between their sense that inaction would encourage more violence and their recognition that the military and political options looked unpromising. Jordanians fretted that the Israeli reaction to the violence would strengthen the radicals politically.

Bear Stearns certainly evokes the crash of 1929 and the Great Depression that followed it. Politicians are already making analogies to Herbert Hoover, the demon of that period, and Franklin Roosevelt, the angel. Amity Shlaes argues that while the 1930s do have plenty to tell us, the real challenge isn't deciding who resembles Hoover -- it is figuring out how to avoid a whole era of mistakes.

What will history make of 43?