Not according to Alexander Hamilton (he got this one right). His retort from Federalist #29:
...if circumstances should at any time oblige the government to form an army of any magnitude that army can never be formidable to the liberties of the people while there is a large body of citizens, little, if at all, inferior to them in discipline and the use of arms, who stand ready to defend their own rights and those of their fellow-citizens.
(hat tip to PJ)
I do think it's ironic that Hamilton was killed by a handgun.
-PJ