Such a strategy must be coupled with vigorous international arms control efforts. The U.S. is the world's premier weapons supplier because U.S. weapons are generally the best. If the U.S. were to downsize along the lines I propose, decreasing domestic consumption of weapons will increase the incentive for military industry to export arms because large numbers of exports keep per unit costs down and profits high. Ironically, in the long run, arms exports undermine U.S. military superiority since we may have to face those weapons, or ones based on their designs, sometime in the future. Economic conversion may not yield as much profit for shareholders, but current defense-industrial profits are subsidized by U.S. taxpayers, and all of us will benefit if these industries convert.
Economic conversion can only make the U.S. economy stronger.
This, despite the fact that there is little chance of making such a defense against ballistic missiles work. The best defense against nuclear ballistic missile attack is non-proliferation efforts. If those efforts fail, it is unlikely that a missile defense system could work. The National Missile Defense Program is unnecessary, unlikely to work, and extremely expensive. More resources should go to arms control and the worldwide control of fissile materials.