The Bipartisan Policy Center provides some context on the sequester — the automatic cuts now scheduled to take place because the supercommittee failed. Basically, the cuts included in the sequester would push discretionary and defense spending down to historic lows:
Even though I think Congress will ultimately undo the sequester one way or another, these graphs are useful reminders that the sequester’s spending cuts would be real and that the fiscal problem really can’t be addressed without reforming entitlements, even if other areas of the budget are cut “to the bone.”
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