After the "well regulated" part, which at the time of writing meant "in working order". Specifically in the context of a militia, it meant a militia that was practiced and capable of taking orders/organizing.

Politicians that dislike the fact that we have freedoms have tried to argue that the original writers somehow predicted and intended the "well regulated" to mean what it does today, hundreds of years later.

It's like trying to argue that the 1st Amendments protection on the "press" only protect the printing press and not the news organizations that go by the name. If you take it completely out of context sure, it means what you say.