Bush 2.0 did a GREAT job of spending cash on the military but not much came of it. Donald Rumsfeld did more to cripple our manpower and planning for a long time to come.
I think Bush 1.0 or Regan is a better example of what could be done right with military development.
Right - but that's the idea. The libertarian cuts the budget by $800 billion or whatever (congrats!) but most of that money is redistributed from a few hundred thousand people who don't typically spend that money to about fifteen million people who do. So the savings rate goes up, overall economic activity goes down, and the unemployment rate is now at Great Depression levels.
Not that we'd know that since the Department of Labor, Bureau of Economic Analysis, etc. have been eliminated.
The guy wouldn't get elected to a second term, of course.
We already spend too much on the military.
If we're interested in keeping the lights on past 2020 or so, we need a Manhattan Project-level R&D effort into thermonuclear fusion for electricity. A ginormous military won't be of much use when oil hits $200/bbl and we can't afford to move it around.
Fusion won't help our problem, fusion isn't relevant to our problem. We have an obscene amount of coal, shale, etc. to burn for that.
We need one or more oil replacements.