Historicly the US Military has been simi-neglected between conflicts. No matter which party the administration belonged too.

The Services were kept intact by a small core of dedicated professionals. There were a lot of personel who were simply riding the wagon, yes. But at the center were a number that kept in mind that sooner or later they would have to train a new generation for war. The period between WW I and WW II is an example easiest to see. The Army was training men with wooden guns, trucks with "Tank" painted on the side because there were not enough of anything to go around. A point, how much faster could we have stopped the Japanese in the Pacific if we'd had an effective military in place?

The comment about the speed which we can ramp up the Military is correct. But now the speed at which events and situations can change makes it far more difficult to react in time. There needs to be a reserve of equipment, techonlogy and the people who can use and train others in the use of same in place.

It is a new war we fight, and as usual, for the most part, the military was ready for the last war. We are now at the end of the beginning, not at the beginning of the end.
Where will the next threat come from? The possible threat source list is long, and spread over a wide geographic area. Modern warfare is more than Bombs and Aircraft, it is Biological, Chemical, subtle shifts in political loyalties, religious fanatics with explosives and we should never forget Nuclear.
Economic warfare is much easier these days, Cyber-attacks can do much more damage now.

Fighting for hearts and minds has always been part of the US arsenal. Today it is far more important than in the past, people without hope do desperate even insane things. We are fighting a two front war, one with Ordinance, the other with information. We have to win on both fronts, or we lose both fronts.