When Is a Cut Not a Cut? When It's in the Pentagon's Budget

Bloomberg:

Even if the budget cuts happen, U.S. defense spending is projected to grow about 2.4 percent annually through 2021, according to the Congressional Budget Office.

The military, the defense industry and their allies in Congress have gone to war over the automatic cuts, called sequestration, with Defense Secretary Leon Panetta, Army General Martin Dempsey, the chairman of the Joint Chiefs, and other leaders saying they would devastate the military.

Read both paragraphs together a few times.