Will Obama Gut Defense? Capitol Hill Democrats want to target the Pentagon.

Current levels of funding don't quite suffice to operate 300 ships, or about half the number the U.S. had at the end of the Reagan arms buildup. The Navy would be satisfied with 313.

Current funding is also just adequate to purchase about 65 new planes for the Air Force each year, even as the average age of each plane creeps upward to nearly 24 years. Last year, the entire fleet of F-15Cs -- the Air Force's mainstay fighter -- was grounded after one of the planes came apart in midair. Spending on maintenance alone is up more than 80% from a decade ago. Is that another defense item Mr. Biden thinks we can't afford?

(As for nuclear weapons, the U.S. hasn't built a new warhead in decades. Its mainstay, the W76, is widely suspected of being unreliable, yet Congress has resisted funding the so-called Reliable Replacement Warhead.)

Maybe it seems odd that the Pentagon, whose budget for 2009 runs to well over $500 billion -- not including the supplemental $165 billion for Iraq and Afghanistan -- should struggle to afford the equipment it needs.

But it's not odd. We've been fighting two wars, straining people and equipment. Weapons have generally become more complex and expensive. President Clinton's "procurement holiday" punted the modernization problems to the present. And even after the Bush buildup, defense spending amounts to just 4% of gross domestic product. By contrast, at the nadir of Cold War defense spending under Jimmy Carter, the figure was 4.7%.

All this should argue for at least a modest recapitalization effort by an Obama administration, assuming it really believes a strong military is "necessary to sustain peace." A study by the Heritage Foundation makes the case that defense spending should rise to close to $800 billion over the next four years in order to stick to the 4% GDP benchmark. That's unrealistic in light of the financial crisis. But holding the line at current levels is doable -- and necessary.