02/22/2013 11:18 am ET Updated Feb 22, 2013

Obama: 'The Thing That Binds' GOP Together Is Helping Rich People (VIDEO)

President Obama promoted his sequestration plan Thursday and, in the process, told Al Sharpton that he believes the one thing holding the GOP together is its love of rich people.

"My sense is that their basic view is that nothing is important enough to raise taxes on wealthy individuals or corporations, and they would prefer to see these kinds of cuts that could slow down our recovery over closing tax loopholes," Obama said on Sharpton's radio show, "Keeping It Real With Al Sharpton." "That's the thing that binds their party together at this point."

Watch HuffPost Senior Political Economy Reporter Zach Carter break down Obama's comments in the clip above.


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