Here's an interesting take on capitalism as a support for huge military budgets: Marx observed that real, competitive capitalism tends to drive profits downward. We can't have that! So, unproductive military spending is one answer. I'd call it a stupid answer, but it would have to rise several levels before it reached stupid.... but that's what we have.
Meanwhile, military contractors have spread their operations out so many states' employment depends on them. A job guarantee could address this political maneuver, but until there's something to deal with out-of-work defense plant employees (and fossil fuel workers) we're going to be stuck with big military budgets (and many coal mines).
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