First, close all US bases on foreign soil. Admittedly, this is probably the most contentious part of the plan. Assets could be redistributed to facilities in the US, or eliminated if unnecessarily redundant. Where treaties oblige us to keep a foreign military presence, develop infrastructure sharing plans with the host countries to minimize our footprint.
Next, invest in the Navy and Marine Corps. The Navy is in the best position to provide power projection regardless of geopolitical boundary shifts, and can most easily globally redeploy assets based on the intensity of the conflict. Similarly, the Marine Corps has a tradition of and indeed the unique capability to be instantly deployable and effective in wide range of scenarios. The Navy/Marine Corps team is a complete combined arms package that can be utilized to intervene quickly in crisis situations or open a theatre for long term combat operations.
This would leave the Air Force free to take up the "strategic" mission they seem to want to focus on. Let them build long-range bombers and air superiority fighters, and take the lead in "cyber" operations.
Similarly, this frees the Army up to focus on defense of our nation and preparing for protracted combat operations.
In my mind, this streamlining of mission focus would reduce overall operational budget, allow for more targeted and effective procurement spending, and in the long term, create jobs inside the US.
Admittedly this is not very developed, and it's from my own very uninformed point of view, but I feel like the idea should at least be explored. Please feel free to educate me if I'm wrong.
