We would have a much bigger problem if we needed to get the kind of manpower we had in World War II, or even in the wars in Korea or Vietnam.
Technology and the Air Force are both fantastic force multipliers, but things would change quickly if we need to fight a land war against an adversary like North Korea or China.
I'm confident in South Korea's ability to defend itself against North Korea. Against China... well, let's hope they decide to keep their focus on selling cut-rate domestic products to rich Americans so they have a commercial incentive not to cause problems. Long-term, capitalism works, and might actually fix China.
However, that takes time, and China won't change into a free nation overnight. Our military is so much smaller than it was in the late 1980s that I'm not convinced we could repeat the expulsion of Saddam Hussein from Kuwait without major problems, and taking on a serious threat from a Chinese regime willing to use firepower instead of economic power is probably impossible today.
President Obama is doing nothing to help that problem, and is doing much to make it a lot worse.
bump