1. The sequester represents 2.3% of the entire budget. Reason Magazine mocks this by offering a sequestration sale, 34 cents off the price of a subscription.
Putting this in perspective, this is $120 billion per year out of a budget of $3.7 trillion.
2. Sequester is not spending cuts, but cuts in the planned increase in spending.
3. It could all be paid, if the government recalled the bailout funds.
4. The defense cuts will be pork
5. Reason.com lists 5 other facts
6. The current set of things to cut is a political ploy. Obama could have targeted the cuts differently, but seem to be targeting service employees to maximize damage and political gain.
7. David Henderson lists 7 government implications. David Henderson also analyzes these.