Obama’s Rejection of Deficit Package Doesn’t Reflect Plan

An explanation President Barack Obama gave in a book released today for declining to embrace a bipartisan panel’s deficit-reduction plan misrepresents the commission’s majority recommendation.

Obama is quoted in “The Price of Politics” telling author Bob Woodward that he didn’t endorse proposals from the commission led by former Senator Alan Simpson, a Republican, and former Bill Clinton White House chief of staff Erskine Bowles because they “involved eliminating the home mortgage deduction, health-care deduction, charitable deduction, etc.”