The short of it: The ‘sequester’ is a bunch of automatic cuts that were put in place *by Congress* to force Congress to get its act together and actually reduce the national debt. The sequester was designed to inflict great pain on both parties – which is a bit unfair, because the GOP was refusing to work with the Democrats (even famously declaring that their number one goal was not to help Americans, but keep Obama from being re-elected). But in any case, the sequester is what Congress agreed to.
The result: the GOP-controlled Congress is refusing to actually work, so these damaging cuts may happen. More specifically, the cuts to Social Security and Medicare means that the old and the infirm will *suffer* because of Congress’ inability to get its act together. In addition the cuts overall will in great likelihood harm our current economic recovery.
The absurdity: that this is somehow Obama’s fault. But, watch the GOP try to blame the sequester *they agreed to*, and their inability to act and avoid it, on Satan Hussein Obama X and some sort of mind control ray.
Let’s all strap ourselves in.