Our leaders in Washington have essentially resigned themselves to allowing sequestration to take effect on Friday. The Senate plans votes Thursday on Democratic and Republican alternatives, but neither is expected to pass. President Obama will meet with congressional leaders on Friday after the deadline has passed.
With the sequester set to take effect, it is helpful to know more about what it will do. Fix the Debt has some resources here.
Also check out more resources from the Committee for a Responsible Federal Budget.