I have yet to hear from a cut and Spend Republican on why we need to spend more on our military than the ENTIRE FREAKING WORLD! If we slashed our military budget in half, we would still be spending more than all of our supposedly 'enemy' countries (Russia, China, axis of Evil) combined.
http://www.truemajority.org/oreos/
Of course the problem with cutting our military is that this is cutting corporate welfare and it will impact local economies (mostly in the South - California and Connecticut were gutted by the Republicans which led to a short term depression in those 2 states - they did however recover). The only way to easy that impact is to replace some military spending with money for retraining and helping small businesses in the local areas losing the military welfare.