The percentage increase in U.S. defense spending during that period is still higher than every one of our allies except South Korea and Australia. France, Great Britain, Japan, Italy all cut their defense spending over that period. Maybe the push should be for these countries to step up and fund their own defense and stop relying on the U.S. to do it for them?
The Liberals and the Left always point to the dollar-to-dollar charts of US spending vs. other nations as well, to justify our cuts. If we rely on that comparison, we are fooling ourselves. The Chinese and Russians can produce just as good (or even better) military capability for less cost. They don't have our environmental regulations, union wages, minority contract costs, legal system fees, and the rest to contend with.
In the raw number of troops, ships, and aircraft, our military looks good on paper, until you realize how many of those troops, ships, and aircraft are actual combat ready.