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"It's absolutely clear the economy is not doing fine," President Obama said at the White House shortly after declaring "the private sector is doing fine" at a press conference Friday morning. That’s the reason I had a press conference. That’s why I spent yesterday, the day before yesterday, this past week, this past month and this past year talking about how we can make the economy stronger. The economy is not doing fine. There are too many people out of work. The housing market is still weak, too many homes underwater and that’s precisely why I asked Congress to start taking some steps that can make a difference.”
Hours after saying the private sector is “doing fine,” President Obama on Friday walked back those remarks, saying it’s “absolutely clear” the economy is not fine.
Obama corrected himself at an Oval Office press availability just hours after making the original remark to reporters in the White House briefing room during an impromptu statement and press conference.
The verbal gaffe offered a political gift to Republicans and capped a miserable week for the president, who was on the losing side of Wisconsin’s recall election and saw his campaign beaten in fundraising by Republican Mitt Romney for the month of May.
Obama walks back comment about private economy 'doing fine'