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UNDATED (USA Today) -- President Obama is sticking with his vice president.
Obama is defending Biden's comment that Republican deregulation policies would put people "back in chains," saying his vice president was only talking about GOP proposals to roll back new rules for Wall Street.
Biden was only saying "you -- consumers, the American people -- will be a lot worse off if we repeal these laws as the other side is suggesting," Obama told PEOPLE magazine in an interview.
Republican candidate Mitt Romney and other Republicans said Biden's comment had racial overtones; Romney accused Obama or waging a campaign of "division and hate and anger."
Some observers -- mostly Republican, it appeared -- even suggested that Obama replace Biden on the ticket.
But that is not happening.
"Joe Biden has been an outstanding vice president," Obama told PEOPLE. "He is passionate about what's happening in middle-class families. So I will be talking to him a whole lot about the campaign generally."
During a campaign appearance Tuesday in Virginia, Biden said of the Republicans:
"Look at what they value and look at their budget, and what they're proposing. Romney wants to let the -- he said in the first 100 days, he's going to let the big banks once again write their own rules. Unchain Wall Street. They're going to put y'all back in chains."