Those of us in the Militiary-Industrial Complex, formly known as the Arsenal of Democracy, would beg to differ. There are lots of factories sitting idle after the defense tear down of the Clinton years. Plus there are still lots of folk out of work, or working as Peter the Greeter at WalMart, who would just love to get back to making bombs, bullets and beans.
Long lead time parts are a problem. Although I'll bet there are lots of electronics parts out there that never got put into cell phones or other telecom type stuff that could be adpated to smart bombs and such.