The 'sequester' is a bill that was passed by the US House and Senate before the President could sign it.
The Republicans on Capital Hill won't understand that the President won re-election on increased revenue and moderate spending cuts. The Republicans are not going to get the cuts they want from the President, because those of us who recently re-elected him said plainly, "NO!"
The 'sequester' is a law that can be repealed the same way it was passed: a bill, to repeal the 'sequester,' is introduced and passed by both the US House and Senate, then sent to the White House for the President's signature.
Austerity, too many government spending cuts, is bringing all the countries of the Eurozone, 17 countries in Europe using the Euro as currency, down into the second dip of a double dip recession; the United Kingdom (not in the Eurozone) is going down for a third dip by doing extraordinary government spending cuts.
The Republicans in Washington, DC are willing to create a second dip into recession for the US economy, just so they can blame it on our President.