They've funded a good number of very expensive telescopes the last 20 years, the fact they didn't fund refurbishment here sees to tell a great deal about its actual value over building new radio telescopes.
MeerKAT: $330M
ELT: > $1B
GMT: $1B
Thirty Meter: $2.4B
Vera Rubin: $473M
James Webb: $10B++
WFirst: $4B
FAST (China): $180M
SKA: $1B
NOEMA: $70M
The last three are radio telescopes, which show both the range of funding available for new radio telescopes, and also serve as evidence we've gone beyond Arecibo.
I am no astro-rocket-surgeon, but I've been led to believe the problem with Arecibo is that it's giant dish was only an advantage for sending signals, while astronomy's overwhelming needs are to receive fainter signals which networks of dishes like SKA can do a much more amazing job at.
And while the planetary radar at Arecibo was one of a kind, and something that simply no other facility has right now, it is not the only food thing about AO. The huge collecting area and the low noise receivers were actually rather good at finding faint signals. Networks of dishes shine when it comes to resolving power, but they have their own drawbacks such as poor coverage of the u-v plane or the inability to image extended faint objects.