So what if we used military construction money on schools and education? Or maybe capturing carbon? Plenty of useful things to the world we could spend the money on. No need to just cut spending and bank the money.
My comment was in reply to the GP's statement that it was a waste of money. When the federal government gives out money, it has a ripple effect as that money is spent on goods and services. Creating a service-based job will have a larger ripple effect, and creating a manufacturing job generally has the largest ripple effect.
So if you have a magic wand or just happen to become dictator, please keep in mind the multiplier effects when deciding where to spend the money. ;-)
