The country has no need of such a military, and especially not of the formidably costly weapons. Having no plausible enemy of any sophistication, the Pentagon exercises itself by attacking primitive nations in the Third World, and usually losing. For this you do not need an F22. You could lose as well with slingshots.
Read all of the piece, titled 'Military,' here. Maybe I just share a lot of his quirks and crotchets, but I think Reed is dead on about a lot of things many others dodge or don't get.