The problem with cutting the Military is that it makes up very little of the total budget, so you piss off a lot of people without actually fixing the problem.
Very little? According to the 2012 Budget proposal, it makes up approximately 19.3% of the budget. The only allocated areas that get more money are Social Security and Health care, at around 20.0% and 22.6% respectively. That means that the military budget is 96.9% and 85.9% of the other two largest accounts. Perhaps I'm missing something, but if we can't cut from that apparently small portion of the total budget, I don't really see where it would be possible to significantly reduce spending at all.
That's why we need to float Social Security and Medicare. Or at least do what Cleveland does.
EDIT: I wonder how many of us are liberal/conservative.