How deep does the sequester cut?

Pretty deep. At least according to Aviation Week.


                                                   US Military Power
                             1988                    Today                  After Sequester 2021

Army Divisions       20                        10                       6
Air Force Fighters  2788                     1493                  1157
Navy Ships             588                       275                    228

In 1988 we had 20 Army divisions.  Today we have 10. After a bit more sequestering we will be down to 6.  That's not enough to do Iraq again.  A division is 15,000 men.  Six divisions is 90,000 men.  We put 130,000 men into Iraq, without pulling our 50,000 troops out of Korea or Germany.  With only 6 divisions, we could no longer deal with regional threats like Iran.
    I feel less worried about the Air Force.  A thousand fighters is a lot, especially now that they all carry smart bombs.  One sortie with smart bombs, that hit the target, is worth hundreds of sorties with iron bombs that mostly miss. 
    Dunno what to say about the Navy.  Now that the Soviets are gone, we don't have any enemies with fleets.  But the Chinese are clearly interested in building up a real navy.