The fallout of the sequester continues to be widely discussed, with the conventional wisdom being that President Barack Obama and his political team made a rare and seriousmiscalculation with their attempts to panic the American public over a 2.4 percent cut in a gigantic, bloated federal budget.

But here in California, there has been no analysis that I’ve seen that notes what post-sequester politics could mean for the MOAB (Mother Of All Boondoggles) that is the California bullet-train project.

In the national press, I have seen several stories that accept as a given that the president won’t try to fight to have the $85 billion in cuts restored with new revenue. Instead, there will be small-ball efforts to change the sequester cuts to make them smarter. And there will be a big-picture focus on trying to craft the old “grand bargain” on entitlement changes paired with tax reform and tax hikes.

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