No, it’s acting like a socialist nation, which is exactly what the US government has been turning it into over the last few decades.
A nation where people are expected to work for a living can afford a big war budget. A nation which puts a vast fraction of its GDP into a welfare state cannot. There’s a reason the British Empire collapsed after WWII, and that reason is the British welfare state; now America is heading down the same path.
Which isn’t a bad thing, in a way. Since WWII, most other Western nations have cut back on defence and bloated their welfare states because they can rely on America to protect them. If the US Navy is no longer at their beck and call, they’ll have to start looking seriously at real defence measures. For example, a nation which expects others to defend it can afford to ban guns… a nation which expects its people to have to defend it cannot.