The DoD budget is the largest ongoing stimulus plan in existence. Every soldier, sailor, airman, and marine is a federal employee, with federal benefits and 20 year retirement options. Every major supplier of hardware - trucks, tanks, airplanes, ships, guns, bombs - every one is an American company, using American parts and American labor.
In many ways this is close.
However, it also misses the mark.
To start with, maybe 15% will ever do their 20 years and get a pension. The majority simply do their 4-6 year enlistment and return to being a civilian, getting nothing.
Then there is the pay. Because of the standard of living, the US military is one of the best paid in the world. The base pay of a recruit in boot camp is over $1,500 a month, not counting other expenses from food and medical to the cost of the training. By the end of a 4 year enlistment most are making over $2,300 a month.
Then the cost of dependents. A member of the US military can get married or have kids at whim, and the US Military is dependent on their support. From housing and schooling to medical and other expenses. And that does not come cheap at all.
To compare, your typical Chinese soldier makes around $35 a month. And he can not get married or have kids until he or she is in their second enlistment, and even then only with government approval.
In the US, a Colonel brings home in base pay around $8,000. In China, a Colonel brings home around $850.
So as you can see, this alone is a huge difference in cost. Pay and benefits.
Of course, there is the "Invisible MIC" that everybody ignores, and that is the power of the Unions. 1 in 3 employees of the DoD is a civilian, backed by huge unions interested in protecting their jobs. And as the military is cut by the tens and hundreds of thousands, this segment is largely left alone. And these are direct, government employees not contractors. We now have hundreds of thousands of jobs that the military used to do, now being done by civilians (who make a lot more money then the Privates that did it in decades past).
For some reason, every time there is a "cut the military" movement, these cuts rarely filter down to the civilian DoD employees. Where people in uniform often get RIFed and downsized, they are in protected jobs, where it is almost impossible to fire them, they are just shuffled off to another union government position with no savings at all.
I have long believed that laying off most of those DoD civilians and replacing them once again with people in uniform will result in huge savings. Soldiers do not get overtime, nor vacation pay. They work when and where required, 24 hours if need be. And since the vast majority leave without ever coming close to earning a pension, when they are gone the financial commitment to them is also gone.