Tim Geithner & Jack Lew designed the sequester at the request of Obama as a strategy to keep the debt/deficit crisis off the table as an issue until after the 2012 election.He threatened the GOP with a veto if they made any attempt to replace the sequester with more targeted spending cuts.
Whose signature is on the Seuester bill twice? Obama signed the legislation in 08/13 and then enacted it on 03/01/13. Obama Owns Sequestration! Obama Voters Own Him!

He believes American citizens and businesses can afford to give much more money to the government but that a 2% reduction in spending would put an extreme burden on the government.