I live in the US, and agree with most of your point, but regarding military spending, a significant portion of that is due to occupation of foreign countries and external military bases. The US is basically the last country paying to maintain an empire.
What makes you say that it isn't profitable? The US has the largest GDP of any country by a large margin. Even the entire (pre-Brexit) EU combined is about 10% smaller.
But how much of the US GDP is attributable to its 'empire', especially considering the opportunity costs of the human and other capital invested in the DoD? I'd love to see the result of a detailed analysis.