From afar, it looks as if the sequester is likely to be avoided once the presidential election is out of the way...However, our US contributors are closer to the politics than I am so maybe they can comment with more authority
I've been in the US for the last 6 months and the political climate aint too hot, the election isn't until November, and the president elect doesn't actually become the president until a week or so later. Plus, the two parties are pretty damn polarised, at the moment; my bet is that they return to a democrat president with a republican congress. Most democrats know that more defence cuts would still leave the US far more powerful than anyone else, and social security takes priority for them. I guess we'll have to watch and see!