The Price of Politics [Hardcover]

Bob Woodward (Author)

Book Description

Release date: September 11, 2012 | ISBN-10: 1451651104 | ISBN-13: 978-1451651102 | Edition: 1

Based on 18 months of reporting, Woodward's 17th book The Price of Politics is an intimate, documented examination of how President Obama and the highest profile Republican and Democratic leaders in the United States Congress attempted to restore the American economy and improve the federal government’s fiscal condition over three and one half years. Drawn from memos, contemporaneous meeting notes, emails and in-depth interviews with the central players, The Price of Politics addresses the key issue of the presidential and congressional campaigns: the condition of the American economy and how and why we got there. Providing verbatim, day-by-day, even hour-by-hour accounts, the book shows what really happened, what drove the debates, negotiations and struggles that define, and will continue to define, the American future.

Editorial Reviews

From Booklist

Woodward’s seventeenth book takes interested readers—and they will need to be very interested—behind closed doors to observe how the nation’s debt crisis developed over the past three-and-a-half years. Copious interviews with major players in this stand-off between the president and congressional Republicans (more than 100 individuals, so the author states) led the author to prepare a you-are-there, fly-on-wall approach to detailing the “struggle...to manage federal spending and tax policy.” The specific focus, and subsequently a big chunk of the book,centers on the 44-day high-stakes negotiations between the two sides in June and July, 2011, a brutal haggling over raising the debt ceiling. The cast in this drama is huge, but of course President Obama and House Speaker John Boehner loom largest upon the stage. These two key players attempted to reach a “grand bargain” that would ease the crisis for some time to come. Woodward’s purpose is to reveal how close they came and why an agreement failed. If readers are looking for an unbiased chronicle of these events, they better look elsewhere. Woodward appears to have walked into the writing of this book ready to lay most of the blame on the president. Some journalists in the know have reported that there is really nothing new here, but political junkies surely will read to the last page. For most readers, though, much of this will be TMI. --Brad Hooper

Review

“A highly detailed dissection of the debt-limit negotiations. … A remarkable achievement. …Woodward, being Woodward, digs deeper and draws more out of the protagonists than anyone else has.” —Jeff Shesol, The Washington Post

"Groundbreaking" —David Gregory, NBC's Meet the Press

"Takes us inside the room once again." —Charlie Rose

"Fabulous book and great reporting." —Norah O'Donnell, CBS This Morning

“Bob Woodward, in characteristic fashion, does his competitors one better by filling in blanks and providing even finer detail.” —Miranda Green, The Daily Beast

"A book everyone is talking about." —Diane Sawyer, ABC

"A very revealing, insightful book." —Sean Hannity, Fox News, "Hannity"

"Required Reading" —Elizabeth Titus, Politico

“Almost every bookshelf in the U.S. capital holds a thin volume called 13 Days, Robert F. Kennedy’s account of the Cuban Missile Crisis. Memo to Washington: Make room on those shelves for Bob Woodward’s latest behind-the-scenes book, The Price of Politics, which might as well have been called 44 Days. The centerpiece is a riveting account of the tedious negotiations to reach a ‘grand bargain’ on the federal budget.” —David M. Shirbman, Bloomberg Businessweek

See all Editorial Reviews

Product Details

• Hardcover: 448 pages
• Publisher: Simon & Schuster; 1 edition (September 11, 2012)
• Language: English
• ISBN-10: 1451651104
• ISBN-13: 978-1451651102
• Product Dimensions: 9.5 x 6.5 x 1.6 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (359 customer reviews)
• Amazon Best Sellers Rank: #24,053 in Books (See Top 100 in Books)
  • #9 in Books > Politics & Social Sciences > Politics & Government > United States > Legislative Branch
  • #33 in Books > Politics & Social Sciences > Politics & Government > United States > Executive Branch
  • #56 in Books > Business & Investing > Economics > Economic History

More About the Author

In the last 36 years, Woodward has authored or coauthored 15 books, all of which have been national non-fiction bestsellers. Eleven have been #1 national bestsellers -- more than any contemporary non-fiction author.

Photos, a Q&A, and additional materials are available at Woodward's website, www.bobwoodward.com

His most recent book, Obama's Wars, is being published by Simon & Schuster on September 27, 2010.

Since 1971 Bob Woodward has worked for The Washington Post, where he is currently an associate editor. He and Carl Bernstein were the main reporters on the Watergate scandal for which the Post won the Pulitzer Prize in 1973. Woodward was the lead reporter for the Post's articles on the aftermath of the September 11 terrorist attacks that won the National Affairs Pulitzer Prize in 2002.

In 2004, Bob Schieffer of CBS News said, "Woodward has established himself as the best reporter of our time. He may be the best reporter of all time."

In a lengthy 2008 book review, Jill Abramson, the managing editor of The New York Times, said that Woodward's four books on President Bush "may be the best record we will ever get of the events they cover . . . . They stand as the fullest story yet of the Bush presidency and the war that is likely to be its most important legacy."

Woodward was born March 26, 1943 in Illinois. He graduated from Yale University in 1965 and served five years as a communications officer in the United States Navy before beginning his journalism career at the Montgomery County (Maryland) Sentinel, where he was a reporter for one year before joining the Post.

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Most Helpful Customer Reviews

143 of 161 people found the following review helpful

4.0 out of 5 stars The Political Dynamics of Negotiation September 12, 2012

By J. Gomez TOP 500 REVIEWER

Format:Hardcover|Amazon Verified Purchase

The Price of Politics by Bob Woodward

"The Price of Politics" is an even-handed book about the handling of the economic crisis under the Obama administration. It examines the struggle between President Obama and the U.S. Congress to manage federal spending and tax policy during his tenure. Associate editor at the Washington Post for 41 years and author extraordinaire, Bob Woodward has provided the reader with a forthright, blunt examination of this administration's handling of the economy. This insightful 448-page book is composed of forty unnamed chapters.

Positives:
1. Excellent prose, great insight from an accomplished author of Woodward's caliber.
2. Cast of characters provided, masterful ability to narrate the interactions between all the players. One thing that stands out about this over books of this ilk is the ability of Woodward to capture not only the issues regarding policy but the human element. The emotions, the ups and downs, the inner workings of dealing with complicated issues that have a direct impact on American lives and their own political careers.
3. In many ways this book provides a character study of the two main characters of this book: President Obama and Speaker of the House, John Boehner. Woodward did a remarkable job of being as fair as possible and in several instances acknowledged where the accounts may have differed. The main players don't come out smelling like roses either; there are many thorns along the way.
4. President Obama's shortcomings particularly dealing with the business community and the failings of congressional Republicans.
5. Timely political topic in the hands of an accomplished author with access. He treats the subject matter with utmost respect.
6.... A forthright, even-handed book that takes no prisoners. It's about the story; it's about capturing what actually happened and not about inserting oneself into the story.
7. The author's ability to penetrate the political haze and get to the bottom of the stories. The ability to work through all the interviews, notes and observations and make reasonable and fair assessments is a rare skill indeed.
8. The key issues of taxes and entitlement reform in details. Each party makes it clear where they stand. Republicans would not budge on tax increases while Democrats had big issues with cuts to Medicare, Medicaid and Social Security. Furthermore, the Republican stance that revenue can be generated via tax reform ala Reagan.
9. The long and I mean long tortuous ways of budget negotiations. Insight into Washington deal making and the importance of leverage. The president's stance of being opposed to a short-term deal. The political implications.
10. The unthinkable prospect of a debt default. The real scoop on raising the debt limit. The debates over the debt ceiling and matters of leverage. The implications.
11. The issue of letting the tax cuts expire and the implications.
12. How legislative deals are usually handled versus how they were actually attempted.
13. The partisan divide from the inside. A look at what drives each party and what drives each player. Also the inner dynamics of party members, Cantor versus Boehner.
14. The practical partisan divide. That is, the issues of contention regarding federal spending and how each party would tackle the problems. The depth of the divide is captured in numbers and sentiments. The art of splitting hairs...spin.
15. Captures the presidential struggle to "dominate" Congress, to give the appearance of having control.
16. The battle of the plans.
17. The failure of the supercommittee...the result of ideological rigidity.
18. Links worked like a charm. Well cited.

Negatives:
1. The book is very detailed, excruciating so at times which actually lends to its credibility but it's also repetitious. How many times and ways do I have to read that the Democrats won't do hard things on entitlements until the Republicans are willing to raise taxes/revenues?
2. No formal bibliography though to be fair this book was based mainly on interviews, notes and observations.
3. Charts and illustrations would have added value. Mr. Woodward's intent in this was mainly to capture the emotions behind the inner-workings of handling federal spending and tax policy and not to interfere with the narration but this could have been accomplished via appendices.
4. There are forty unnamed chapters which makes it difficult to jump or refer back to a chapter of interest.
5. There are sections of this book that will test the patience of the reader which reflects on the frustrations of dealing with the budgetary process. All the games and the posturing.

In summary, this book is an even-handed examination of handling federal spending. Mr. Woodward's ability to relay a story in minute details is impressive and captures the essence of the political struggle from both parties to handle the economy. Where this book excels is relaying the inner workings between the main characters, the back and forth, the prodding, the emotions involved, the incessant amount of meetings, in short the handling of complicated and stressful negotiations, it's really about the political dynamics of negotiation. That being said, the book will test your patience. The incessant back and forth over the same issues may tire you out but reflects the budgetary process and the partisan divide. The book will upset you, frustrate you no matter what side of the political aisle you are on but it will provide you with rare insights into the politics of federal spending and tax policy. It's a book that is definitely worth reading with reservations duly noted.

Further recommendations: "Red Ink: Inside the High-Stakes Politics of the Federal Budget" by David Wessel, "The Benefit and The Burden: Tax Reform-Why We Need It and What It Will Take" by Bruce Bartlett, "White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You" by Simon Johnson and James Kwak, "End This Depression Now!" by Paul Krugman, "Winner-Take-All Politics: How Washington Made the Rich Richer--and Turned Its Back on the Middle Class" by Jacob S. Hacker and Paul Pierson, "Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich - and Cheat Everybody Else" by David Cay Johnston, "Aftershock: The Next Economy and America's Future" by Robert B. Reich, "Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present (Vintage)" by Jeff Madrick, "The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street" by Robert Sheer, "The End of Growth: Adapting to Our New Economic Reality" by Richard Heinberg and "The Crash Course" by Chris Martenson. All these books have been reviewed by yours truly, check for my tag, "Book Shark Review". Read more ›

48 of 51 people found the following review helpful

4.0 out of 5 stars A Lesson in the Abstracted Politics of Congress September 19, 2012

By Thossy

Format:Hardcover|Amazon Verified Purchase

Bob Woodward's "The Price of Politics" covers the run up and aftermath of the 2011 federal debt limit debacle. I just finished reading the book and want to share my immediate impressions.

Woodward's writing is what I would call reportorial. He takes care to avoid coloring sentences with unnecessary and potentially misleading adjectives. Description is kept to a minimum in the narrative. As a result, the reader must rely on the dialog and recollections of the subjects, some of whom express themselves better than others. I found it helpful to pause at various dates and think about what I was doing at the time and what I recalled about the issues and people involved.

For example, I realized I had developed a strong negative impression of House Majority Leader Eric Cantor. I was surprised that he seemed more reasonable and less ideological in the book. Similarly, I was surprised and impressed with Joe Biden's role. In the popular media, he has been relegated to "class clown" status.

Other take-aways: Congress is all about politics and little about policy. Also, we don't have a do-nothing Congress. These men and women are working very hard. But accomplishment is the prize and there is very little of that to go around. And nobody works longer or harder than the staffs of these elected officials.

Woodward's reputation and singular access in the halls of power provide his readers with important, actionable insights. The story is harrowing. The serious national issues continue to fester. Many of the people in "The Price of Politics" are up for reelection and your vote may change after reading it.

27 of 28 people found the following review helpful

4.0 out of 5 stars Politics as a Sporting Event September 30, 2012

By Thomas M. Magee

Format:Hardcover|Amazon Verified Purchase

This book has something for everyone, no matter what your point of view. It will open up your eyes to how bad things are in Washington. The author, Bob Woodward captures the budget events of 2011 in almost sickening detail. He goes about doing that much the way he describes foreign policy events in his other books. He puts you in the room with the principle leaders.

The book provides a blow by blow event of the budget and debt negotiations between Congress and the President in 2011. You learn about the various motivations and pressures that motivated each party and the White House. This description of events is much like a sporting event. This side offers this, the other side offers that and so on and so on. The down side of this method is you miss some of the big picture of events. You won't be able to see the forest through the trees kind of situation.

That blow by blow routine does get a little boring through the first part of it. Stick with it, the ending makes it all worth the work. I think a reader will gain a lot through the book. That is where your eyes will open through the collective story.

You will learn about the various personalities on both sides via what they did and a little through what they say in the book. I think you will learn things about people that the media and PR consultants miss. This side of them will shock you and not sit with your preset ideas.

You will also leave the book feeling a bit depressed. The book will make you re-look at those events of 2011. You will have to make your own analysis. Bob is sort of weak on that description. You realize how close we all came to disaster back then. The news then made it seem like everyone involved wanted the 11th hour deal for theatrics.... The book makes you realize that deal was by luck, not by intent.

Through the book you will think we are in trouble. The book makes it very clear how difficult the budget situation is. Both sides were unable to come to a deal due to several political reasons. It is like democracy may have come to an end. It seems each party's collective pride prevents us from coming to a collective deal.

I found there were two big things that jumped out of the book. One was the description of the White House and President Obama. Bob Woodward's own words said "It seems no one is in charge". Any reader will pick that up when you read it. It seems that policy was all over the map. Points were changing all the time. For example in the book after the President gets a deal with the Speaker he calls back and ups the stakes. That killed a deal. The other fact is how the nature of the budget problem evolves around various sacred cows of medicare, social security, and other programs. That was all that the negotiators talked about. That is where all of the money is. People tend to talk about about the easy things like parties in Vegas but that isn't where the money is. The big issues is what is tying up the country and seem not to be able to be fixed. Read more ›