For many years the military budget has been very big compared to other parts of the government spending. Much of it comes from money spent on useless things. Someone should go though the budget and sort everything out so that they can get rid of the wasteful parts and keep the others.
Yes, the military should be limited in the amount they can spend on new technology because the money could be used for other things. There are so many people who need the money more than the military. We have the best army and navy in the world, and we do not need to make it better yet.
World War Two would have been a lot shorter if Germany hadn't had the U-Boat technology. What the United States needs to have at its disposal in order to fight wars has to be cutting edge. People shouldn't die, even civilians, just because the government decides to impose an arbitrary budget on the safety of its people.
Keeping a strong military is a great part of what keeps America safe and competitive on the world stage. The Navy is part of this military, and should be afforded as much technology as needed to keep us safe. Of course, this is to be kept in check, making sure they aren't spending money on nonessential things, though.