This list is based on what is actually necessary for the US to defend its people and territory. It also covers humanitarian and peacekeeping operations. In general, the US spends far too much on big ticket items like surface ships, submarines, manned combat aircraft, and armored vehicles. All of those have little utility in the wars the US is likely to fight. America's nuclear stockpile should also be greatly reduced. The 400 or so active land-based ICBMs are more than enough to be an effective deterrent.
The service academies should also be closed. There is no evidence they produce better officers than other much cheaper programs like ROTC and OCS. Overseas military bases should be closed and auctioned off. It's not our responsibility to defend other countries, especially rich ones that have well-funded and capable militaries. It was a mistake to establish the Space Force. Let the Air Force handle the military satellites.
Special forces should be on the chopping block too. Army Rangers are the only ones in that bunch who have ever been on the winning side of a war, and that one ended in 1945. The money would be better spent on drones, cyber operations, and foreign language training.
The US Army in the 1930s had about 100,000 soldiers. That's about the size it should be now, though a large reserve of perhaps 300,000 is a good idea. I'd decrease the arsenal to the following weapons: M9 pistol, M4 rifle, M67 grenade, M203 grenade launcher, M249 machine gun, Javelin anti-tank missile, Stinger anti-aircraft missile, and M24 sniper rifle. Ideally, all troops should do familiarization fire with each of those weapons, though simulated rounds would be acceptable for the M203, Javelin, and Stinger. I'd prefer to see the Humvee fleet get gradually replaced with Toyota Hilux trucks, as they are cheaper, more reliable, and easier to maintain.
As for vehicles, I'd keep a small force of HIMARS and tanks, perhaps 100 of each. A fleet of 50 or so Blackhawk helicopters would be reasonable as well. It'd be good for the Army to have a few rapid response battalions that could fly out in C-130s to trouble spots.
For the Marines, I'd let them have two expeditionary units with all the bells and whistles. There isn't much of a reason to have more than that. Historically, USMC was the smallest branch, usually having less than 10,000 personnel total.
I'd let the Air Force keep their cargo and refueler aircraft, plus some rescue helicopters. I'd cap the number of their manned aircraft at 100. Their focus should be on drones and nuclear deterrence.
The Navy would get to keep 10 submarines with two of them carrying ICBMs. I'd prefer to see them focus on cruise missile strikes. I'd likewise cap their manned aircraft at about 100.
The Coast Guard I'd leave at its current size. They're not much of a drain on the system.
The bulk of manned aircraft would be Blackhawks and C-130s. A few hundred Predator and Reaper drones would be enough for airstrikes. Cruise missiles are the best option for the minor wars the US is likely to engage in.
It's very unlikely any of this will happen, but this is the right direction to head in. There's simply no good reason to keep spending what we have been for the results we've been getting and for the wars we are likely to fight.
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