Our military has grown too large, too unsustainable. We need to cut it down to size, not with a scalpel, but with a chainsaw.
While I hesitate to do this, I'm going to directly quote my manifesto, "An American Reformation" on this topic. (Excuse the formatting, it didn't carry over well from the original document.)
Section Four:
The United States has failed in its responsibilities to the people of the Earth by waging wars of aggression; and as such it has proven to be unworthy of providing for its own defense. However as it is not practical to dismantle the armed forces of the United States it must be restructured for the benefit of the world and of the American people.
The United States Department of Defense shall become a division under the United States Department of State. The office of Secretary of Defense shall be abolished.
The manpower of the United States Armed Forces shall be capped at no more than 15,000 active service members; with a maximum of an additional 10,000 kept in reserve.
The United States of America shall keep no nuclear, chemical, or biological weapons; nor shall it seek to establish or maintain any research or manufacturing productions or facilities; and shall decommission all standing stockpiles of nuclear, chemical, and biological weapons by the year 2020.
The Executive Branch of the United States of America shall relinquish command of the United States Armed Forces to the United Nations Security Council.
The United States Armed Forces shall not operate in any capacity outside the recognized borders of the United States of America without the approval of the United Nations Security Council.
The United States Navy and the United States Coast Guard shall merge into one entity; and operate a total not to exceed 200 ships; to include a maximum of two aircraft carriers; and a maximum of 150 aircraft, not to include those not intended to operate in combat operations.
The United States Marine Corp shall merge into one entity under the authority of the United States Army.
The United States Air Force shall not maintain long-range missiles; nor the ability to conduct offensive bombing operations.
The United States of America shall not conduct a draft, nor maintain the ability to do so.