"Defense experts say that Mr. Gates is likely to cut $1 billion to $2 billion from programs for defenses against missiles, and that Boeing’s airborne laser system, which would equip a modified 747 jetliner with a laser to shoot down missiles, might be killed."
Doesn't look like shooting down big missiles with expensive lasers is high on the priority list.
I think this missile scenario is one that is more FUD than anything at the moment. A country like China or Russia knows that if they open up this can of worms, it's not going to be who launches the first missile that wins (or is hurt the most)