TODAY | March 04, 2013
>>> now to politics, no time for compromise and the cuts known as the sequester that started going into effect over the weekend. chuck todd is here with the latest. good morning to you.
>> good morning, savannah. welcome to the new normal of washington budget politics 2013 , where inaction leads to an actual action that nobody likes but at the same time nobody stopped, resulting in these automatic cuts known as the sequester. no one wants to have another big budget cut as speaker boehner and president obama wave the white flag and allow sequestration to continue.
>> this is not the smartest way to cut money.
>> reporter: considering that nobody wanted the sequester it's striking allow little was done to stop t the president and speaker of the house have seem content to simply blame each other.
>> the president demanded it.
>> it's happening because of a choice that republicans in congress have made.
>> reporter: a sequester showdown was unavoided by doing nothing. when the president signed the sequester order a number of agencies across government were notified how much they have to cut. it may be months, if ever, that the public feels the direct impact of these cuts. but in a sign of political exhaustion, both the president and the speaker are signaling they won't do battle over funding government the rest of the year, taking the prospect of the government shutdown at the end of this month off the table. there's still optimism both parties can forge some grand bargain on spending and entitlement much later this year.
>> i think we need to do a bigger agreement for the country.
>> bipartisan compromise on revenue, raising tax with entitlement reform.
>> reporter: it's clear mitt and ann romney are still grappling with their loss to president obama .
>> obviously it was a winning campaign. it worked.
>> do you think it was fair?
>> the president had the power of incumbency. obama care was very attractive, particularly to those with no health insurance and they came out in large numbers to vote.
>> as you see there, he joins john mccain , john kerry and others. it took a