What a modern-scale budget would do to the 1900 US Navy

What would the 1900 US Navy build if it received a 2022-sized naval budget?

It would first have to expand the industrial infrastructure needed to absorb the money and build ships at that scale.

The limiting factor would be yards, suppliers, and skilled industrial capacity rather than cash. The 1900 US Navy could not simply place orders equal to a modern budget because the industry needed to fulfill them did not yet exist. Much of the windfall would therefore go into creating an expanded network of shipyards and supporting firms. Only after that infrastructure came online could the money translate into a much larger fleet, making industrial absorption more important than gold-plated individual ships.