Andrew Bacevich (West Pointer, retired colonel, so he should know) has this to say about our defense spending:
What are Americans getting for their money? Sadly, not much. Despite extraordinary expenditures (not to mention exertions and sacrifices by U.S. forces), the return on investment is, to be generous, unimpressive. The chief lesson to emerge from the battlefields of the post-9/11 era is this: the Pentagon possesses next to no ability to translate “military supremacy” into meaningful victory.
Washington knows how to start wars and how to prolong them, but is clueless when it comes to ending them. Iraq, the latest addition to the roster of America’s forgotten wars, stands as exhibit A. Each bomb that blows up in Baghdad or some other Iraqi city, splattering blood all over the streets, testifies to the manifest absurdity of judging “the surge” as the epic feat of arms celebrated by the Petraeus lobby.
The problems are strategic as well as operational. Old Cold War-era expectations that projecting U.S. power will enhance American clout and standing no longer apply, especially in the Islamic world. There, American military activities are instead fostering instability and inciting anti-Americanism. For Exhibit B, see the deepening morass that Washington refers to as AfPak or the Afghanistan-Pakistan theater of operations.
Add to that the mountain of evidence showing that Pentagon, Inc. is a miserably managed enterprise: hide-bound, bloated, slow-moving, and prone to wasting resources on a prodigious scale -- nowhere more so than in weapons procurement and the outsourcing of previously military functions to “contractors.” When it comes to national security, effectiveness (what works) should rightly take precedence over efficiency (at what cost?) as the overriding measure of merit. Yet beyond a certain level, inefficiency undermines effectiveness, with the Pentagon stubbornly and habitually exceeding that level. By comparison, Detroit’s much-maligned Big Three offer models of well-run enterprises.
So okay. You want to argue with that? Why bother! When you're had, you're had!