You want a big spending on military? Then make sure you can pay for that all by your own money. Can you? You are the world's greatest debtor, and economically critically dependant on foreign powers and their good will to keep your body floating. Like the US society, your state finances your military megatoys - on tic.
The Chinese are more healthy. First they allowed you to run into the trap of becoming financially depending on their good will I (which they are increasingly losing), following the motto of "If you see your enemy making mistakes, don't interrupt him", next they started to build their military - but not on tic but on a basis that they can finance by their own economy. You weakened your economy, they trengthened their economy, and still do and gain more and more strategic advantages. At the same time they did not get fixiated on hard power, but concentraded on soft powers - and these are the qualities that will beat your military without one shot being fired. Guess who is more clever here!?
Nervi belli pecunia infinita. Real money that has a real value - no state bonds and bubbles and play money. Most of the the great european powers of the past 500 years had allowed to ruin their economies and state finances over gallopwing spendsings for bigger and bigger militaries. All of such nations had to declare state bancruptcy at least once in said 500 years. America is repeating their very same mistakes, refusing to learn by their example. Book tip on this matter:
Paul Kennedy - The Rise and Fall of the Great Powers. Also
: Herrfried Münkler - Empires. The Logic of World Domination from Ancient Rome to the United States.