Some 170 retired generals have supported a mass rally set for Saturday to protest at the government's proposed special budget of some 610 billion Taiwan dollars (18.2 billion US) for purchasing weaponry from the United States.
The package will strengthen defense capabilities against rival China, which is targeting the island with over 600 ballistic missiles, Yu said.
"These retired generals oppose the military spending for ideological reasons and it's immoral to put 23 million people in an unsafe environment to serve their own political causes," Yu told reporters.
President Chen Shui-bian Wednesday reenewed warnings of military threats from Beijing, saying the number of missiles is increasing by 50 to 70 annually.
The special budget, awaiting approval by parliament, calls for the procurement of eight diesel-powered submarines, a modified version of the Patriot anti-missile system and a fleet of anti-submarine aircraft over a 15-year period beginning in 2005.
Some critics say cash-short Taiwan cannot afford the advanced arms. Others say the new weaponry, even if purchased, will not be delivered in time to help Taiwan defend itself against any Chinese attacks in coming years.
"Which item on the 610 billion dollar purchase list is strong enough to (enable Taiwan) to have an upper hand in a war, to defeat the enemy?" questioned retired lieutenant general Fu Ying-chuan at a press conference.
The rally's organizers said some 170 veteran military leaders have endorsed a statement warning that the hefty military spending could further provoke China and force the rivals into an arms race.
They urged the defense authorities not to be used by politicians and arms dealers or to bow to political pressure to push for the purchase.
"About ten retired generals were to attend today's press conference but they were pressured by military authorities not to show up," claimed Kuo Chung-i, a spokesman for Democracy Action Alliance, the rally's main organizer.
China regards Taiwan as part of its territory awaiting reunification and has repeatedly threatened to invade should the island declare formal independence.
The two sides split in 1949 after a civil war.