is Putin trying to implement a similar program that the US (and to a lesser extent NATO members) used to bankrupt the USSR in the 80s culminating in the demise of the USSR?

First, the demise of the USSR had little to do with us bankrupting them. That's reagan propaganda. The USSR collapsed because after Brezhnev died, there weren't any younger party members willing to prop up the system with a bloodbath if necessary. All the old Bolshevik fanatics had died off. Guys like Gorbachev understood the system was fatally flawed.

Second, Putin is the one with an economy in deep trouble. Without oil revenues, Russia doesn't have much going for it. The US has plenty of wealth available to be called on if necessary to far surpass anything Russia can do militarily.

I'm not saying our buildup was the primary factor for the USSRs demise. It did contribute to it though.

Any war with Russia involving Great Britain would invariably involve the US as well.

United States, into the British column, and remember that Russia depends largely on 1 year draftees.

All of Putin's talk about capabilities is around any potential effort to attack or undermine the country.

The reality is that Russia could not win an offensive war against the west, so they want to make sure that the hawks (neocons and neolibs) understand that what they do have is the capability to react to an attack or provocation.

I know that the media wants us to be hysterically afraid, but if you pay attention that is what is going on.