I am not sure if anyone has posted on this yet, but there is an excellent article in the Huffington Post about the effects of the sequestration on research universities and the primary investigators currently trying to scrape by in the current, horrible funding climate.
I happened to work in the same building as the professor from the University of Virginia mentioned in the article and can tell you that things are every bit as bad in every lab on every floor of his building, spanning 6 different departments.
Something needs to change, and change soon.