Treasury Secretary Pushes to Stop Sequester

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Treasury Secretary Jack Lew says the government needs to stop the automatic spending cuts known as the "sequester."

Lew told NBC's "Meet the Press" Sunday that the president will keep up his efforts to either get rid of the cuts completely - or at least reduce them.

The cuts went into effect after the Democrats and Republicans couldn't reach an agreement on spending in 2011. Lew says they're hurting the economy.

"The nonpartisan Congressional Budget Office has estimated that by the third quarter of next year, sequestration will have reduced real gross domestic product by as much as 1.2 percent, which means as many as 1.6 million fewer American jobs," Lew warned.

But critics blame the president's policies, including Obamacare, for slowing down economic growth.

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