Why Obama rejected Simpson-Bowles - Impact Players (1:24) 

Gene Sperling, National Economic Council director, tells Reuters Impact Players' host Robert Wolf that the president could not agree to the deep defense cuts proposed by the debt commission headed by Alan Simpson and Erskine Bowles. He also wanted more revenue. Wolf is an outside advisor to the White House and a former Obama fundraiser. (January 9, 2013)

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