The "MIC" aside, maintaining an adequate military force to protect our global interests as dictated by the President and Congress, is no easy feat. The Air Force is short approximately 1,000 pilots, the Navy is severely over-tasked causing manning issues and even worse, delayed maintenance and overhaul issues. Equipment in the Marines and Army (including ground and air) are being used up far earlier than their projected life cycle.
With so many tasks being required of them the Military is struggling to stay within budget while being mission capable. And that's just to meet known and immediate commitments. I almost doubt we have the shipping capacity or manpower with equipment to engage even North Korea at this point.
A major overhaul of the military is past due. I've suggested in a Military Times letter some time ago that the Marines ought to be rolled into the Army, the Air Force disbanded with their missions given to the Army and Navy, and other integration strategies to make the entire military more streamlined and cost-effective.
Never happen - too many rice bowls to kick over.