I can’t speak to the personnel issue but from what I hear the equipment is getting worn down. We should expect to buy a lot of new hardware to re-equip the troops in the next few years.
That is not happening because in order to replace old equipment, money must be takened from R&D programs of future equipment which will impact the fielding of next gen weapon systems. The program managers and their corporate contractors are lobbying hard against such moves. Thus procurement of replacement equipment is gummed up in a bureacratic infighting between the future weapons programs with the logistical replacements. Defense contractors are heavilly involved because high price high tech development may be delayed or cut back in deference to the less sexier and lower cost replacement programs.