No they are not.
The amount of military spending europe has, is already higher than russia.
Russia clearly showed how incapable they are, they are not even able to present modern war technology at their freedom parade.
And china we don't fight china.
we have about 30 years of catching up to do, better defense spending:
1) Saves our lives in Europe, by having access to better training and force multipliers.
2) Seeps into the economies of every country in the union through research spending.
Defence is unambiguously a good thing, it becomes a problem if you put an expansionist cunthead at the helm of it.