On Jan 1st Congress and Obama made a deal that push sequestration back to March 1st. In that Obama was able to get his tax increases that he wanted on the "wealthiest Americans", and apparently the GOP managed to screw up and paint him into a corner. That is the only thing that can explain why Obama is all of a sudden willing to do a short term extension of cuts to put off sequestration for a few more months.
The fact that something the GOP did actually might work, is well, shocking. Don't think I'm going all soft on them though. Like I said, I'm pretty sure this was something they lucked into.