(I’m sure there’s a better metric for military power than mere budget, but I don’t know enough to find out what that might be).
Like Trump said in 2016, it's time to turn our resources back home. Rebuild our own infrastructure, social programs, etc.
Like a lot of Trump's rhetoric, this sounds nice, but the proof is in the pudding. I don't think we were spending infrastructure and social welfare resources on our military to begin with, so not doing so doesn't necessarily free up resources. The US is fully capable of doing all of these things, it's not short on resources.
Also, it's now 2020, and Trump is toying with war in Iran, moving new troops into Iraq, increasing military expenditure by billions of dollars, repealing and cutting funding for social programs and AFAIK not actually rebuilding our infrastructure at all in any significant way.