Interview: Woodward’s new book chronicles Washington’s financial failings

Journalist Bob Woodward tells Seattle’s Morning News the country is in a “moment of financial peril” in an interview about his new book. (AP image)

America’s foremost political journalist Bob Woodward has written a new book delving into the dealings between President Obama and congressional Republicans on the nation’s debt ceiling crisis. In an interview with Seattle’s Morning News, he calls it the most important issue in the upcoming election.

“It’s the most important issue to people’s lives. If they screw this up and keep postponing this as they have done in the past, more jobs are going to be lost. Confidence is going to be undermined,” Woodward says.

In “The Price of Politics,” Woodward details the failings of President Obama and congressional leaders to strike a deal on the nation’s finances, and examines the struggles between both sides in a series of interviews and anecdotes.

“We are in a moment of peril simply because the federal government does not have its financial house in order,” Woodward says.

He’s critical of the lack of compromise between both sides.

“It’s got to be fixed in some way and you have to have some compromise. This situation is not stabilized.”

Woodward says he is discouraged that both sides continue postponing any tangible action to address the nation’s fiscal crises, and says the government is failing in its fundamental obligation to avoid further financial ruin. He says partisan politics are a big reason.

“The president told me there would be Republican leaders who would come to the oval office and tell him to his face if we fix this before the election it would guarantee that Obama was re-elected
because it would be seen as a victory for him. So many Republicans just dug in like a brick wall and the president didn’t find a way to get around that brick wall or tear it down.”

By JOSH KERNS, MyNorthwest.com Reporter