I can't even begin to imagine what would happen to the United States if they weren't constantly involved in some conflict somewhere around the world.
That one old Simpsons joke comes to mind.
But seriously it would probably collapse their entire economy, unless they could find another use for the military. And really I wouldn't want them to considering what a huge polluter the Pentagon is. There is no place for it in any reasonably bright future.
You're off by an order of magnitude, the MIC employs MILLIONS of people directly and indirectly. Each of the government agencies that make up the security state are as large as some of the largest private company. DOD has 700,000 civilian employees alone.