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Bob Woodward examines 'Price of Politics'
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Description
New book goes inside debt ceiling crisis
- Duration 3:42
- Date Sep 28, 2012
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Transcript
This transcript is automatically generated
Politician -- journalist and author Bob Woodward knows a whole lot about Washington and politics he's been writing about it since the 1970s maybe before that.
And of course we know when he broke the Watergate scandal.
Now his new book called the price of politics takes readers inside the Obama White House during last summer's debt crisis like no other book I've ever read.
And warns us quote a fiscal day of reckoning is right around the corner.
Bob Woodward our guest this morning Bob the fiscal crisis -- on the quarter that's going to be your next book I think.
Well bad -- we have the federal government if the financial house is not in order.
We have the sixteen trillion dollars of IOUs out there in the world and we're gonna have to borrow another trillion or two.
How the government is going to do that.
Is that if there's going to be a real battle -- -- in your book you talk about we met we even met the president met with a lot of people behind the scenes -- said that there was a those -- good handshake between the president and business leaders for a Leon.
But that friendship soured -- yeah they have in this is one of the deals that Obama has not closed.
He is not closed tube with the leaders in his own party he doesn't have those personal relationships in the alienated the business leaders.
In a way that really was unnecessary and -- scenes in the book where he's -- He invites with business leaders to to the White House for the Super Bowl big deal once a day ago.
In spend fifteen seconds with him and.
I don't know that we have that quote he says this is from your book for from the but CEO of Verizon says quote.
Obama chatter with Seidenberg for about fifteen seconds before the game but then.
He went down to the front -- to watch the game with his buddies that was -- fifteen seconds when he complained -- Jarrett Valerie -- her responses -- -- doing the same room with them.
You should be happy.
Right here with the guy you're with the president of of course the Seidenberg good not only was -- of Verizon at that time.
He was head of the business council which represents the businesses in this country.
That account for about half.
The GDP and -- employment in so you have to have a relationship Clinton was able to do -- he didn't agree.
With the business leaders unless -- things Obama his not right phone -- chronicle.
In this book meetings interactions.
Where he -- said listen you have a problem connecting here.
There's idea that you listen he says you get the sense that he was just waiting for me to finish so we could say something back there was a lack of 101 synergy -- media ended in you know will look -- -- in in our business in.
In government in anything personal relationships -- and he's got this distance from everywhere -- one of the most an astonishing.
Things is he hasn't.
Doesn't have that relationship with his party leaders.
-- re read.
He has to go into the Oval Office with his chief of staff to make a point to the president that done these negotiations.
They didn't have a fallback plan -- -- didn't.
Things that make us scratch our heads President Obama had a chance to attack the debt when he -- with the Simpson Bowles commission that he commission himself.
How did that break down how -- pres Obama push away from a commission that he was looking for.
Well two months when two months ago when I interviewed the president for the book I asked him about that any -- the Simpson Bowles proposal.
To cut or eliminate that -- deductions for mortgage interest -- health insurance in charitable.
Contributions.
Would be wildly unpopular.
And would that congress would voted down the name of the book is high price policy and Bob we've got to have you back okay so -- facets of this book.
