zaentz - >> mr. chairman, thank you. >> you have to put it closer. >> thank you, the third time as a charm. members the committee, good morning and thank you for having me here. i'm here to discuss sequestration. these are the automatic spending reductions for fiscal year 2013 required by the budget control act. i want to start by reiterating a point made when the president signed the budget control act last august. sequestration by design is that policy. congress should pass balanced deficit reduction to avoid it. the intent of the sequestered was to use the threat of mutually disagreeable cuts to defense and non-defense program to force congress to enact a compromise deficit reduction plan. if allowed to occur, sequestration would be destructive to domestic investment, national security, and core government operations. a c bo report estimated that on an annual basis, the defense spending would be cut by approximately 10% while non-to spend -- defense spending would be cut by almost 8%. the actual%