Sequestration does not cut anything. It is not a cliff. Sure it raises taxes, which is the wrong thing to do in a weak economy.
Sequestration cuts deficit spending by $1.5T over 10 years. Considering that current deficits run ~$1.3T per year, one should be able to realize that these cuts are modest at best. It cuts ~1/5 of a trillion per year while still spending ~$1.1T in deficit spending. It is a scam.