More Than Half The World's Defense Spending, Ctd

Drezner's criticism of Kristol et al:

You know the threats posed to the United States by a rising China, a nuclear Iran, terrorists and piracy? You could put all of them together and they don't equal the perceived threat posed by the Soviet Union during the Cold War. And until I see another hostile country in the world that poses a military threat in Europe, the Middle East and Asia at the same time, I'm thinking that current defense spending should be lower than Cold War levels by a fair amount.

Odd how the tired Kristol fanfare has met with such a blast of bloggy opposition, from across the spectrum. I wonder who will be the first Republican candidate (after Ron Paul) to make serious defense cuts a fiscally conservative cause. Or am I hoping for far too much? Their current math makes no sense.