What's the most important thing the military should do while going through this downsizing period?

Keep paying the Soldiers.

Ensure that our men and women that serve are taken care of and not forgotten.
That our government not jeopardize our countries safety and security from this ongoing threat.
The families of our fallen be taken care of.
Retain leadership that well take us to the next level of our nation defense and security.

  

Change the strategy to right sizing. Re-establish the Navy - Marine Corps as the Amphibious Expeditionary response force. Reduce the US Army and increase the National Guard to replace HLD and Army Reserve to augment the USA for long term Overseas Contingency OPS (OCO). Let the DoD hire prior military experts, Operations Planners and Logistics Operators to develop corporate knowledge in support of the lean mean fighting machine. Finally cap officer and enlisted promotions at O3/O4 and E5/E6 with brevet promotions in time of war and national calamity.

hang tough we been though this before and it should all work out in the end

Using the greatest asset our military possesses: maximizing the considerable strengths of our remaining troops. We will still be the best military in the world!

A transition program for exiting military. Education, job placement, VA follow-up support. Those currently stating active, again education, multiple training in different fields so as not to depend on specialties. Last but not least, dependent support like wise.

Ensure that the military we are reduced to is strategic and effective, by any and all means. Its a necessity at this point, not a desire. We don't have the choice to keep our one and only child, son, or even daughter's home from war today. We have to hope for them the best, but have them prepared for the worst. Semper Fi my one and only son, I love you, Mama. CYA soon , I hope!

Keep an eye on the Rank and M.O.S reports make sure the Company level support and manpower stay at Standard Operating Procedures. That would go for battalion and regimental levels also.

Start thinking seriously about their Military Jobs and what it does to defend the Constitution, Family, friends, the flag and Country.  Their Faith is also going to need to be strong!  Faith in each other, Faith in their Weapons and Gear, Faith in their leaders, most of all faith they are backed at home and by a Supreme being.  It doesn't matter what religion, it just matters you believe in something!  Support each other, Train with the idea that you are the last defense.  Improve everyday.  Support each other and get your families to support you!  Work as a team with a winning mentality.  Most of all remember you represent the best America has to offer where ever you go respect the customs and women and men you will be in contact with.  Treat children as you would want yours treated.  Lead, Follow. or get out of the way.