If the so-called sequester budget cuts go into effect as expected tonight, one of the very biggest federal programs will be far from immune. Under the current arrangement, beginning April 1 hospitals and doctors face 2% cuts in the amounts that Medicare reimburses them for services rendered to recipients. That'll mean cuts of $10.7 billion this year and $118.8 billion over 9 years, according to a report by consulting firm Tripp Umbach.Diagnosis: A 2% haircut.read more