Given the political reality that cutting social benefits is not going to fly in the Senate, the current sequester is the least of all possible evils.
And its better than raising taxes which would damage the economy. Since the Democrats won’t negotiate changes to the current law, its best to let things be.
Let the Obama Administration take the political heat for the coming budget cuts. They agreed to them and now they should be made to keep their side of the bargain.
The political reality is that neither side wants to go first in saying what they’d cut, since the other side will use it as a cudgel to bludgeon them. That’s why the sequester will happen. It’s how we got here in the first place.