DOD should cut out the "diversity" programs along with all the support staff and money for studies and implementation. Any uniformed personnel should be reassigned to combat/combat support/combat service support units immediately.
DOD should also cut out any "green energy" programs to include bio-fuels research.
The Navy should take this opportunity to stop putting women on board our nuclear attack and ballistic missile submarines.
These are just a few items that come to mind. I am certain a few O3s and E4s could come up with enough cuts to existing and unnecessary programs to make up for the estimated funding cuts.