> The United States Navy controls all of the oceans of the world. Whether it’s a junk in the South China Sea, a dhow off the African coast, a tanker in the Persian Gulf, or a cabin cruiser in the Caribbean, every ship in the world moves under the eyes of American satellites in space and its movement is guaranteed—or denied—at will by the U.S. Navy. The combined naval force of the rest of the world doesn’t come close to equaling that of the U.S. Navy.
> Having achieved the unprecedented feat of dominating all of the world’s oceans, the United States obviously wanted to continue to hold them. The simplest way to do this was to prevent other nations from building navies, and this could be done by making certain that no one was motivated to build navies—or had the resources to do so. One strategy, “the carrot,” is to make sure that everyone has access to the sea without needing to build a navy. The other strategy, “the stick,” is to tie down potential enemies in land-based confrontations so that they are forced to exhaust their military dollars on troops and tanks, with little left over for navies.
-- Friedman, George. The Next 100 Years (p. 45). Knopf Doubleday Publishing Group. Kindle Edition.
Basically he says that the USA can spend recklessly, be astoundingly inefficient, etc and still remain in power due to this.