President Obama says sequestration or forced spending cuts set to take effect just eight days from now are "severe" and "brutal." House Speaker John Boehner says the cuts are "deep" and "dangerous."
Doug Holtz Eakin, a former director of the Congressional Budget Office points out the cuts are not as 'brutal' as politicians are saying.
"The sequester is an $85 billion cut in a $3.6 trillion annual budget in a $16 trillion economy. That's a small cut in a huge pie."
Since it is a huge pie, Erin Burnett asks why no one can seem to come up with a plan to replace the sequester with other, smaller cuts that won't have such a "brutal" and "dangerous" impact.
OutFront tonight: Daniel Altman, economics professor at New York University and Reihan Salam, CNN contributor and writer for the National Review.