As to US/nato arms production, starting from now, they will never catch Russia, the economics for it aren't there.
Russia was supposed to have a thousand T-14 Armatas and a few hundred SU-57 Felon's years ago. Ten years after they were introduced, at best a dozen T-14s and a score of SU-57s exist as production prototypes or operational.
As for the T-55, yes, they are useful as fire support. That they are used at all is the problem. Russia has to go to the vehicle graveyards to find them because their newer and better equipment is having high losses.
Putin or Shogiu can announce new plans to all the press fanfare they want. Until Russia has T-14s or SU-57s, they don't have them.