Good read with an actual plan instead of hypotheticals. Lawrence Korb: Cutting the Pentagon by $1 trillion - Jan. 5, 2011 Excerpts: U.S. defense spending, in inflation adjusted terms, is higher than at any time since the end of World War II. Over the past decade, the U.S. share of global military spending has risen from one third to one half. The United States now spends six times as much as China, the country with the next biggest budget. Defense is the third largest area of the federal budget, consuming 23% of the total and 55% of the discretionary portion.