Chuck Schumer actually said...

As you know, unless Congress acts before March 1, sequestration will roughly impose $85 billion of across-the-board cuts.

There is no straighter shooter than Jack Lew.

This strikes me as a little bit like rearranging the deck chairs on the Titanic rather than steering away from the iceberg.

Jack was heavily involved in that, and continues to be a bipartisan person who wants to, and is successful at, working with both parties.