Two-Percent Medicare Cut in 2013 Is Another End of "Medicare As We Know It," says Obama

I'd like to read the White House Office of Management and Budget's information about how the legislation signed in August 2011 to begin the process of managing United States' deficits is going to affect Medicare.  I'd like to read it but I can't find it anywhere on the OMB web site.

So I guess I just have to stick with my first impression when I saw all the horror-story news articles from the left-wing press. 

1. Sequestration is going to cut 2% ($11 billion out of $500-plus billion) next year.
2. Obamacare is going to cut more than 10% (over $700 billion out of $6-trillion-plus) over the next 10 years

But bipartisan sequestration is evil and the one-party-drove-it-down-your-throat Obamacare is the greatest piece of legislation ever written.

What am I missing?

-- Dennis Byron