No, I mean this happens in the US. There are projects that the DOD wants to stop, but isn't allowed to stop. Remember a budget isn't just a lump sum that the military gets to spend as it wants. It details every little thing and how much can be spent on it. So they can't just shift around the money. So it's quite easy for the military budget to be bloated in one area and short in others.
Second, the thing stopping world wars in nukes, not the US military. Without nukes (for everyone), the US would probably be more powerful to be honest, but fight more wars. What the US Military does is stop conflicts for most everyone else, and also act as a big threat towards other belligerent countries.
Third, my point about cost-plus contracts being bloated still stands. These need to be gone.