We are the number one spender in military & defense spending in the world. We beat number 2,3,4 and 5 summed up. Two of the 4 following are our allies, with other allies sitting in spots between 5 to 10. To claim we cannot afford to cut less than 7% of our military budget is, mildly expressed, a scandal. If this is subject to discussion with the argument that national security is at stake, then this is nothing short of fear mongering.
Since both parties are so much into ending the war in Iraq, it can be expected that this war, or what is left of it, will come to an end, right? This alone will free up resources to cover for the cuts. One could believe an army of lobbyists is working in the background and defending an ever increasing revenue stream.