The sequester cuts are a supreme case of Washington dysfunction. Yet Congress is actually quite capable of getting some things done.
So it’s looking unlikely that Washington will do anything to prevent the sequester, the automatic spending cuts put in place to try to force Washington to find a way forward on spending, from starting to take effect tomorrow. The president and congressional leaders will meet tomorrow to discuss next steps. Hardly anyone likes the sequester—it was designed to be disliked—but no one has the right combination of power and incentives to simply repeal it, either.
While past attempts at big deals have failed, this time Obama has serious leverage: House Republicans loathe the fiscal cliff's policies.