SMs are taking a hit in the proposed 2017 budget. How much longer can the average family maintain a decent standard of living?

This of course depends on your definition of a decent standard of living.
When you pay your bills, do you look at ways to save money or have you wrapped up your DirecTV with NFL package as part of a decent standard?
Do you have the newest iPhone and maximum data plan with phones for every member of the family?
Do you buy new cars every five years and trade in the paid off vehicle?
There was a time in life that I resorted to eating mayonnaise and cheese sandwiches and my breakfast was a glass of milk. That fortunately was only a transitional period while I got my act together. Not using credit cards and starting a budget was one of the greatest decisions I ever made in regards to finances.

I really and truly honestly think that very few people, civilians and Servicemembers alike, have any clue how much Servicemembers are paid (in terms of total compensation or in terms of simple base pay), relative to the civilian population at-large. The myth is that Servicemembers are under-compensated and the argument is that we should be paid more. When comparisons are made, though, it is clear that Servicemembers are very well-compensated, especially when considering the entry-level, low-skill nature of the vast majority of jobs in the military. I don't mean this as an insult, but the fact is that one can join the military with zero job skills, and from time to time, without a high school education, as a convicted felon, etc, etc. Even officers enter the military, for the most part, with only an undergraduate degree and essentially no work experience.

The market mechanisms are working, here. Supply (those in the military and that want to join the military) is way up, and demand (how many people we actually need in terms of what is authorized and decisions Services and Congress have made about end-strength) is way down. Large supply, small demand....this isn't going to equal ginormous pay raises. The financial incentives in place are doing their job in motivating people to stay in. Regardless of the talent mismanagement problem we do have in the military, we don't have a recruitment or retention problem (in terms of numbers: I'm substantially opposed to the way the military conducts human resources management).

Here's more on this topic:
https://www.rallypoint.com/answers/what-percentage-are-you-based-on-income-do-you-think-you-are-adequately-compensated

What is the hit?