It's not only for replacement equipment. Sorry if that is how it came across. Every year the military reviews long term (ongoing) and short term spending requirements before submitting their budget. If the general was only quoting 5 years (which is why I made a comment to the quoted reference), he was most likely referring to short to intermediate funding. Take for example a navy ship. It takes multiple years to build one, and then it's life expectency is 30-50 years of ongoing costs after deployment. Same thing with an aircraft.
Since he quoted 5 years, it seems he is having a problem getting a budget together for just those five years,
since the administration isn't doing budgets. He clearly was showing distress at what is going on.
I clearly understand your point though about long term planning for large capital expenditures.