Well you can cut the troops or cut the heavy weapons (armor and jets). If you cut both you lose capabilities since the heavy weapons can do the work of many foot soldiers and vice versa.
If you are running a big conscript army then don't invest in all those fancy tanks and planes, your numbers make up for it.
If you are running a small professional standing army then stick all those troops in some kind of technological terror, since you can't afford to lose any.
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