While I do not advocate cutting funding for active duty forces (pay and necessary maintenance and operations), DoD as a whole is just as bloated as any other gubmint bureaucracy. More so in fact, since it has been that way since we started ramping up for WWII and they have never had a real haircut.
It is the nature of bureaucracies to grow without bounds, and DoD is espcially so prone since that is where all the money is.