Forget that for a second, I'm wondering if it is even possible to increase budgets meaningfully vs China?
PLA releasing 2 new, most likely 3 new B-21/JSF sized projects out of left field. It shows they have seemingly unlimited money. At the same time Beijing is expanding forces at the same high rates, J-20 program is still thriving, J-35 is ramping up etc. It seems increasingly clear that China actually isn't limited by any possible monetary cost, only by the time it takes to train soldiers/pilots/sailors and the time it takes to for engineers and researchers to do their thing.
And just today, they also okayed a random dam with pricetag $ 200 billion.
Beijing has some sort of near unlimited wealth generator that evidently exceeds whatever ability US has to print their own money. That phenomenon should be further studied (in the economics threads tho, not here)