$85 billion. that is 2.23%. michael ramirez, thank you for letting us use the pie chart. we want to start the panel with a tweet from laura carlson. laura carlson, from iowa, i guess. laura carlson, i.a., true sequestration numbers. what is the truth. can president obama decide what exactly, where in-budget cuts can be made. ve have been talking about they are cuts, talking about the cut bus the federal government is growing. can president obama even as it s written decide where these cutbacks and decreases go? steve? well, there is some disagreement on this. the white house says no, we have to do this across the board. we have very little flexibility. you hear from house republicans that the white house does have a fair amount of discretion and it has to do with the budget arcaina with