President Obama during a discussion Thursday with MSNBC host Al Sharpton said that the only thing holding an otherwise deeply divided Republican Party together is its love of helping the rich, according to POLITICO.

“My sense is that their basic view is that nothing is important enough to raise taxes on wealthy individuals or corporations, and they would rather see [billions in sequester cuts to social programs]… That’s the thing that binds their party together at this point,” the president said, referring to the spending cuts scheduled to take effect March 1.

The president continued, claiming “75 percent” of Americans supports his so-called “balanced approach.” He later attacked Republicans for saying there need to be more spending cuts, stating that their arguments are bogus.

“[H]e went on to joke with Sharpton, a former Democratic problem child who is now one of Obama’s staunchest supporters,” POLITICO’s Glenn Thrush notes, “recalling their relative positions on the roster of speakers during Rosa Parks’ memorial service in 2005.”

“I was second from last on the speaking list and you were in the top five… that showed our relative positions,” the president laughed.

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