It depends completely on what you want your foreign policy to look like. From the end of World War II, the United States by virtue of the size of it's military WAS and IS the leader of the free world. You have to make a decision on what type and the extent of your involvement in situations.
For example, there is North Korea. What are you going to do? If you shut down the bases, bring the troops home, then what? North Korea has a one million man army. They WILL invade South Korea if we are not there, they say it every year when they have their May Day parades. The state of war still exists and the mandate that was passed by the UN still is in effect. Everytime the Chinese bring it up in the Security Council to kill it, we veto it. If you disengage, then the Korean War will have been in vain and you condemn the South Koreans to being over run by the North. If you stay engaged, then you require that you have the equipment and the bases that will allow you to be engaged. You can have all the SEALS that you want, but I got news for you, if you don't have a mechanized division to oppose an invasion, then you are pissing in the wind. That means air support and naval support as well. Korea is half way around the world. A single division opposing a million man army will last about 5 days at the most (if it stays conventional). You want to tell those 30,000 soldiers and airmen in Korea that they are NOT worth reinforcements if the North comes across the border? I'd rather you bring them all home.
What are you going to do about Eastern Europe and the Baltic States? Putin doesn't like the fact that the Poles and the Czechs are becoming part of NATO. He especially doesn't like the fact that Latvia and Estonia are becoming over friendly with the west. Add to that the fact that the Poles and the Czechs WANT the defensive missle batteries that the US wants to put there, and you've really sent a shiver up his spine. That makes his medium-range nukes all but paper weights. He doesn't like that. Makes his position at the negotiating table weaker.
And then there's the mideast. Iran is such a nut case and there's no telling what these butt boys will do in the next year or two. 20% of OUR oil goes through the strait of Hormuz. You going to just abdicate the right of ships to pass safely through it? And if Iran does shut it down, who's going to stop them if we don't have the capability?
You don't want to spend the money on a large military, but you don't want to be limited to burning the lights or playing the TV for just 4 hours a day because we have no fuel to fire the turbines. The UN is a joke and the US is the butt of every resolution passed by these idiots. They've sent a 'delegation' to Oklahoma now to talk with the Indians about what happened two centuries ago!?!?!?!? That's productive. I don't know about anyone else but I don't like being dictated to by a bunch of third-world shit hole countries. You want to hate us, fine. But there is a line you don't cross.
Course, I'm not into being told what to do anyway... it's that free American thing.
The North Korean million man army is a paper tiger. They can barely afford to feed them, let alone sustain a million man invasion force. South Korea is one of the richest nations in Asia. They also have the most modern weaponry, tactics, intelligence and US backing. South Korea, by itself has the seventh largest military force, North Korea is twenty second (
Global Firepower - 2012 World Military Strength Ranking) Any invasion from the north would quickly collapse
Russia is not the USSR of old. Even the vaunted Soviet Army turned out to be a shell of an Army, poorly maintained, poorly trained with miserable morale. The current Russian army has no where the strength of the old Soviet force. They want to saber rattle with Poland or the Baltic States? Let them contend with modern NATO forces and let Germany and France bear the bulk of the workload. It is high time that Europe be responsible for its own defense and own sphere of influence
Iran is also saber rattling. Once again, let NATO take the lead. Europe has more to lose than the US
This does not say that the US dismantle its military and go home. The US needs to get out of the worlds policeman role and allow wealthy nations like South Korea, Japan, Germany, France and England put up the military and monetary support in their own spheres of influence.The US can provide military support in airpower and naval support while letting allies put actual boots on the ground