The military is just as bloated and can stand some cuts.
As somebody pointed out, there are many serviceable weapons and equipment that are eliminated, just so shiny new weapons and equipment can be brought forth and somebody gets their commission.
Bloated? The military has already been cut substantially by Obama and Panetta.
And what will be done with the savings from defense? The money will be shifted to keep the welfare state afloat. This is the classic "Guns versus Butter" battle that takes place in declining great nations and civilizations. The UK and the rest of Europe are good examples.
They are now spending about 1% of the GDP on defense. They continue to cut back on their defense expenditures. Fortunately, they have the US to provide the security umbrella. Unfortunately, we will not have that luxury as our defense capabilities are eviscerated. It is inevitable. The politicians will assure us that these cuts will not harm us and that DOD is bloated and inefficient. Butter has far more constituents than guns.