The United States is done fighting Great Power wars. No one talks about it publicly at all because doing so would shatter America's self-image as the Lone Superpower. The military the United States has now is quite capable of wrecking any nation that is not another Great Power. I say wrecking and not defeating, because as should be obvious from the last three decades, the United States has zero interest in winning wars. It really doesn't even bother trying - too expensive, and too hard. Instead the United States has made it very clear that if you displease it too much, and aren't another Great Power, it will trash your nation, and then either walk away or hang around stomping on you every so often.
The unspoken assumption is that there never will be a "real" war with China or Russia or any other 'near peer'. Whether that ultimately turns out to have been a foolish approach remains to be seen. But, it does leave a lot of money floating around to be siphoned off by various parts of the military-security industry, because Americans think they're paying for a Cold War military, when what they're actually getting is a military good for knocking down weaker opponents and then kicking them, but that barely even tries to pretend it can do anything else. (Except via propaganda, which is really cheap compared to manpower and materiel.)