Now that budget sequestration is under way, it looks less like the fiscal apocalypse that had been predicted and more like a long-overdue intervention with politicians who are addicted to borrowing and spending.

I agree with President Obama that sequestration's across-the-board rather than specific cuts are a "dumb" way to reduce spending. That is why I voted against the plan two years ago. But if sequestration is dumb, it's even dumber not to cut spending at all.

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