Certainly the United States is losing some capability. I think you have to look at it in the longer term, because the capability they've developed or deployed for Iraq and Afghanistan has been pretty active over the last decade. Sequestration in the United States has taken its toll.
That said, the United States still possesses a military capability that far exceeds that of any other nation on earth. Perhaps we should be more concerned about China and Russia growing not just in very incremental terms, but growing dramatically, in double-digit growth rates year over year, in their military capability. Even though it's still a long way from what the Americans have, it still has to be a concern about balance of power.