Henry Waxman actually said...
You have correctly quoted the numbers as I understand them from the CBO about what the sequesters would do to NIH, and that loss of 2,300 grants, which would come already 3 months in the fiscal year, would represent about a quarter of the total grants we would give for that entire year.
Context
Waxman highlights the significant reduction in NIH grants due to sequestration.
06/20/2012