  I describe the capabilities of the Cosmic Origins Spectrograph, scheduled for
May 2009 installation on the Hubble Space Telescope. With a factor-of-ten
increase in far-UV throughput for moderate resolution spectroscopy, COS will
enable a range of scientific programs that study hot stars, AGN, and gas in the
interstellar medium, intergalactic medium, and galactic halos. We also plan a
large-scale HST Spectroscopic Legacy Project for QSO absorption lines, galactic
halos, and AGN outflows. Studies of next-generation telescopes for UV/O
astronomy are now underway, including small, medium, and large missions to fill
the imminent ten-year gap between the end of Hubble and a plausible launch of
the next large mission. Selecting a strategy for achieving these goals will
involve hard choices and tradeoffs in aperture, wavelength, and capability.
