You are obviously clueless with respect to the much more complex combat environment today vs 1966, and have no idea what it takes to actually field and develop a major weapons system.
Can some cuts be made? Yes.
Can they be made to the level you are advocating? No.
I have a Bachelor's in Aerospace Engineering, a Master's of Business Administration, have 23 years of commissioned military service as an Air Force officer in the active and reserve component, have been stationed, been TDY, and deployed to 50 countries, including Iraq and Afghanistan, and have worked for vendors to the DoD.
I have been on both sides of the procurement system, both as an operator of weapons systems and as a vendor to the DoD.