NEW YORK ( TheStreet -- Debra Borchardt: Well the sequester cometh; in fact, it's headed our way March 1. So Jim, we've got so much nonsense going on in Washington. We have half of the politicians talking about how horrible this is going to be immediately. Friday we're going to wait for 10 hours in line at the airport and our meat is going to be horsemeat the next day and things like that. But are they overplaying this?

Jim Cramer: I think so.

Debra Borchardt: I mean, clearly there's going to be some changes, but not day one.

Jim Cramer: What's so annoying is, it is scare tactics. I was on Meet the Press yesterday with Peggy Noonan who is talking about the government by scare tactic and by freak-out and that's been Obama. He's suddenly putting a lot of people out. Secretary LaHood (he's transportation) was on and he is the guy who is saying ... that the lines (at the airport) will be big.

They seem to try to figure out what is essential that the government produces and go after that. (There is) the idea that the Navy won't be able to deploy the U.S.S. Truman, which I had the good fortune to be on for several days -- it projects a tremendous amount of power. They're saying that it can't go to the Gulf because of the sequester. I mean, clearly there's 250 golf courses that the military has. There's whole defense project programs that are probably unnecessary and they come up with the most necessary thing that the Navy does. So it's kind of shameless. I hate to see it.

That said, Larrry Kudlow had a fabulous piece on on Friday, talking about how it's really only $44 billion and not the $80-plus billion, and that it's actually good to show that there can be some cuts. Obviously we want entitlement cuts if we want to be long-term focused. The military does seem fat. You would like to say to the military, "Guys, if you don't get it together and kill some programs, we're going to do 'this.'"

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