Broke? Not according to the administration. They keep adding programs and debt like crazy. So the administration’s supposed strategy is not “we’re broke”. Their strategy is to gut the military because they despise the military and American “hegemony”. It also frees up money in their minds for even more spending.
Other than supporting wars for the international corporations in the Middle east, the Bush administration followed the same strategy.
My holding is that the standing “administration” is irrelevant. The Big Money gets what it wants, regardless of the color of the face in the White House.
This has always been the way of things.