"No, what it looks like to the enemy is the U.S. pouring money into a never-ending hole.""What has happened is that everyone in the world now realizes that something more advanced than the F-18 isn't needed. The F-22 is overkill for replacing the F-15, F-16, and eventually the F-18 (and the F-35 isn't even worth talking about)."
There is so much of you post that begs to be commented on. I will say that yo probably got something right. In this context, "the F-35 isn't worth talking about". Beyond that one point, you're lost. Why is it that only you thinks that the Russians, Chinese, Indians, and the French is just rolling over and peeing on themselves at the mere thought about facing US air power. We are the best, clearly, but no one is just giving up. And only you thinks that the battle is going into space by the end of the month.
C'mon. Look at the life of any modern weapon system. You build it and then fit it to whatever roll it needs to fit as the budget demands. The F-117 is a nice exception, but that's about it. And as nice as the F-18 is, or the F-15, F-16 or even the F-14 are, they are almost out-dated by the modern Russian airframes. Let's leap ahead in technology again...as is the American birthright, and make them all play catch up for a few decades to come. We need to build the F-22. We owe it to our pilots to give them the best the world can conceive of. Right now, that honor is going to the Typhoon II. And that fact that the french have better tech than we do should not sit well with anyone.
Space? Sure, someday. We'll all be in Rutan's spaceforce, oK? But let's live in the moment, and live in the next a few decades to come and buy the F-22. (I wish is would have been the F-23, as I might still have the dream job I loved, but that's life.)
"And as nice as the F-18 is, or the F-15, F-16 or even the F-14 are, they are almost out-dated by the modern Russian airframes." 
Why?
Airframes don't change the human body. Pilots can only take so many G's.
What do you think that the Russians did to their airframes to give them such an advantage?
Specifically?
Frankly, they have no advantage. They aren't more advanced, and they don't merit spending $26 Billion on 23 F-22's.
Also, you do realize that Rutan has *already* gone sub-orbital this year, yes?!
That's a civilian doing what the F-22 can't, by the way.
Tell me again, specifically, why we should pay to do less than what civilians can manage?