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Fallacies about the sequester aside, you're right: the military budget should be cut, and dramatically.

Last time I heard, the Federal Government needed to cut 43% of its budget to eliminate the deficit. The military should be apart of that. Why not let the military take the brunt of these cuts? Cut the militaries budget by more than 43%, and then other departments won't have to cut so much to balance the budget.

Standing armies during peace time is unconstitutional, anyway.

Article 1, Section 8:

"To raise and support armies, but no appropriation of money to that use shall be for a longer term than two years;"