Everybody’s panic over President Obama’s proposed and then phonily condemned sequester–federal budget cuts across the board–is really something to behold. But is it any wonder?

Obama has been telling people that if these cuts go through, they and their kids won’t be able to eat, that the roads and bridges of America will crumble, that our military will be so weakened that who knows if we’ll be able to defend ourselves against a North Korean or Iranian nuclear missile?

His fellow Democrats in Congress are doing their part in helping to spread the fear, with Congresswoman Maxine Waters warning that “over 170 million jobs could be lost” if the cuts go into effect. Considering that there are only 140 million jobs in America, it can be reasonably deduced that Waters is one of either a liar or an incompetent.

There a couple funny aspects to the panic.

For one thing, while the sequester is a cut in the budget only technically, the government will still spend more in 2013 than it did in 2012. Spending is still going up in spite of this cut.

Additionally, the amount to be cut from the federal budget by the sequester is $85 billion. The 2013 budget is $3.8 trillion. That means the government plans on spending $10,410,958,904 per day this year. I’d double-check my math with Maxine Waters, but if I’m correct, that means that the $85 billion sequester amounts to eight (8) days of federal spending. Eight days. We’re panicking over eight days’ worth of spending.