Is the F-35 protected in DOD budgets?

There are some confusing words over U.S. DOD way in relation to the F-35 and budget cuts.

From Inside Defense (subscription) last month, we have this:

Sequestration Means Cut Of Funds For As Many As Five F-35 Jets

Posted on InsideDefense.com: June 18, 2013
Spending cuts mandated by sequestration could cut as many as five F-35 jets from Pentagon plans to build 29 Joint Strike Fighters using funds appropriated in fiscal year 2013, according to a Defense Department spokesman.

Last week, the Defense Department sent Congress a report that revealed Pentagon plans to spend $5.2 billion to procure 29 F-35 aircraft in FY-13 are being cut by $815 million (DefenseAlert, June 13).

"We are estimating that up to five aircraft could be cut," Joe DellaVedova, a spokesman for the F-35 joint program office, toldInsideDefense.com today. "Based on the percentage cut against each service’s budget, each variant could be affected."

Yesterday, the chief DOD weapons procurement official paints a different future of the F-35 program in these budget times with language of ramping up production.

How will all this go for FY14, 15, 16 etc when we are almost $17T in federal debt?