Stephen Walt on the "leaner" military budget revealed yesterday

And make no mistake: the "leaner" military budget revealed yesterday does not herald a fundamental change in our overall approach to the rest of the world. The United States will still be spending several times more on national security than any other single country, and more than the top ten or so nations combined. Our strategic attention will shift toward Asia and away from protracted counter-insurgency efforts (decisions that I applaud), but the United States will still be a preponderant power, will still maintain an extensive array of military bases around the world, and will still be strongly disposed to interfere in other nation's affairs. We may be using somewhat different tools (i.e., drones and special forces rather than large occupying armies), but these are tactical rather than strategic adjustments.

http://walt.foreignpolicy.com/posts/2012/01/06/why_ron_paul_may_actually_have_something_right