SNL Takes On Sequester.. On Friday night, President Barack Obama signed an executive order activating the across-the-board spending cuts known as "sequestration" that came as a result of an ongoing political budget standoff. Saturday Night Live explains the sequester, having an Obama impersonator bring up examples of folks affected by these cuts. Start at 1:15 to see a Philadelphia public schools teacher who was supposedly laid off. (Hint: The glee of her reaction to leaving that job is off message for Obama's grim tone. "Good luck reading Beowulf, you monsters," she says.)