After cancelling almost all modernization programs after the Cold War Bush 41 laid the groundwork to continue to neglect strategic modernization to this day. Democrats can simply say, "The Cold War is over look what a former Republican President did."
I have added a link from the National Institute of Public Policy that outlines Russia's current modernization and it is a sobering document. In so many area of domestic, foreign and military policy Obama mirrors the Carter Administration.
The biggest and most worrisome difference is that under Carter we had a weapons infrastructure in place the Reagan could kick start and there were weapons in the pipeline like the MX missile, Trident missile, cruise missiles and modern nuclear warheads being produced. Today there is NOTHING being researched, developed or produced and the nuclear weapons enterprise is 'dying on the vine' due to neglect.