Maintaining military bases an Germany, Japan, Korea, Great Britain, the Balkans, Panama, Haiti, ad infinitum does little to nothing to provide for national security.
Time to bring those troops home to protect our own borders and seas.
USA will not back-pedal by itself on defence spending and its global military involvement.
The status of grandeur is too appealing for that to give up. The USA will try to keep the gap in military spending to the world, whilst major emerging powers will year after year spend more money on defence and put additional stress to US megalomaniacs wanting to keep the same military supremacy over the world they grew up with.
The US controls world seas, in the next years ahead China will make serious attempts to secure its surrounding seas for itself to project its hegemony also to non-continental Asian countries - and even beyond that. The USA will counterbalance for sure, but in the long run, China is only containable through alliance efforts, classical workshare. The problem is, that such an alliance (NATO) has no real benefit in containing China else then the USA upholding its status of grandeur. All have massive economical interests with China.
The USA has some regional allies like Japan, South-Korea, Thailand etc. in helping to contain China. But for that to work, the USA has to raise its support for these countries substantially. Probably re-route "aid" and "privileges" (acces to top-notch tech, building it for them for free or giving existing euqipment to them whilst USA replaces equipment with new orders) away from countries currently benefitiing from these privileges. How you gonna make that tasty for AIPAC and your congress-men?
The more China grows and with it smaller emerging powers, the USA faces serious risk of over-stretching.
My perception of the US psyche is, that they will go full over-stretching in financial collapse.
Grandeur is no god-given privilege. It's just a snap-shot of specific global developments that lead to a is-condition. These conditions already have changed.