Published as a guest post at scientificamerican.com:
[T]he sequester wreaks its havoc by striking hardest at particular points in the life cycle of a university researcher. New tenure-line faculty are actually somewhat insulated from the very worst of the pressure. “Every agency has set aside money for young investigators,” he says,”some from private foundations, and a lot from the feds.” Cuts in budget strike those dependent on other people’s grants — graduate students, post docs and soft-money research scientists — but a new faculty hire has somewhat better prospects than most for the first few years.