In my opinion we should keep enough military power to deter attack by foreign powers, but drastically reduce or eliminate military capabilities that could be used for foreign occupations or domestic counter-insurgency. It's pretty easy to draw a distinction between these kinds of military assets.
America's nuclear deterrent is sufficient to prevent attack by foreign powers such as Russia or China. We can keep the ICBMs, the jets, and the nuclear-armed submarines. These weapons pose little threat to a domestic insurgency but certainly deter any foreign aggression that could pose a significant threat.
The same cannot be said for standing ground forces. The Army and Marines once served a purpose, but today they are irrelevant to US national defense. They serve no purpose other than to invade foreign countries and threaten freedom at home, all for the benefit of "defense" manufacturer profits.
We should also get rid of all police except elected sheriffs and their deputies, and there should be strict citizen oversight of law enforcement. And this is to say nothing of the laws themselves, many of which are morally repugnant.
Disbanding standing militaries is not "disarming". You kids and your tortured logic. 
