I think a 50% cut is too much, but the rest I agree with.
Thanks to our sacred second amendment, the citizens of this country are armed to the teeth. Quite of few of them are always blathering about violently overthrowing our american government; and although I've never actually heard them say anything about repelling a foreign invasion, I presume we are well equipped enough to do so without spending money on a massive military industrial complex, and a massive professional standing army.
ps: I've always wondered why these militia dudes are always brandishing their guns and talking about the sacred right to overthrow our american government; but I can't ever recall them ever talking about using their guns to repel foreign invaders. Oh well, that's a conundrum I'll probably never figure out!