Hanukkah is the celebration of God’s miracle of the oil, not an excuse for a party.
The reason for the event was Hanukkah. I wouldn't term it an "excuse" for a party, but it was why they were celebrating.
What I hear Obama saying was: "We don't need an excuse for a party" which is to say, "We don't need Hanukkah" which is to say, "I really don't like the Jews."
I think he was doing this as an explicit "in your face" moment. Also: light one candle each night, to symbolize the days of the miracle? Scoff! Let's light 'em all at once! Just get it over with! Got more important things to do! When's Eid????
Boy, I hate this guy.