The sequester doesn't actually cut federal spending, episode 113.
This one comes from the Congressional Budget Office (CBO):
(clic the pic for an even more savage image)
The full document is available here.
Outlays/Spending are recorded in the second line of the table, and yes this includes the sequester!
Federal Spending is expected to be flat between 2012 and 2013 at around $3.55 trillion before beginning to rise again. It rises each and every year of the sequester.
Spending hits $4,000,000,000,000 in 2016, $5,000,000,000,000 in 2020 and flirts with $6,000,000,000,000 in 2023
People, these are the "savage cuts" that are going to wreck havoc on the American economy. This is Paul Krugman's "doomsday machine".
They are not actual cuts at all, but simply a lowering of the planned growth in Federal spending.
If this level of "cutting" is not politically possible, then we are all doomed.