Bruce: the “real deal” is that the way sequester was structured, by the CONGRESS in the bill, personnel costs can be reduced by not hiring people, or furloughing them, but contracted costs/projects are NOT subject to cancellation. BTW: the Executive branch cannot change salaries, only Congress can change the pay tables.
With all the talk, the glowing, glaring, example is that the long-term cost of the constantly failing F-35 is NOT the $400 billion or so talked about in the press, but now over $1.3 TRILLION in obligations that CAN be cancelled!! That one project alone is way more, of course, than the “sequester” or even the “Ryan budget” will save! (And it won’t destroy Medicare and Affordable Care Act, which, end the subsidy to pharmaceutical companies (no bid) and cut even more billions in wasted spending/read profit for corporate America.