White House Spokesman Jay Carney made the comment during a regular press briefing, branding the Republican Party effort as attempts to divert attention from policy issues.

"They know that what they're saying about is ridiculous," said Carney.

Carney was referring to Biden's remarks this week in a Virginia campaign event regarding the Wall Street reform. Biden told the racially mixed crowd that the Republican's approach to the financial industry would "put you all back in chains." The Republican side has been infuriated with the racial message of the comment, and has been calling for Obama to dump Biden as running mate.

"The vice president was talking about Wall Street reform," Carney said Thursday, noting the Republicans were trying to "make something out of nothing," and the GOP (Grand Old Party) was making this effort because they were "losing these policy debates pretty overwhelmingly."