How much money should the U.S. actually dedicate towards its military?

I don’t believe in war. However, what I’m getting from the recent protests is that we are spending too much in our military.
1. Do you think we need to be spending this amount in order to preserve our freedoms in the U.S.?
2. Do you believe we are more susceptible to terrorism should we decide to downgrade our military presence?

These are hard to answer in my opinion because so much relies on other situations.