Hours after saying the private sector is "doing fine," President Obama on Friday walked back his remarks, saying it's "absolutely clear" the economy is not fine.
"That's precisely why I asked Congress to start taking some steps to make a difference," Obama said.
Obama corrected himself at a press availability in the Oval Office just hours after after he made the original remark to reporters in the White House briefing room.
Republicans, recognizing a political gift, pounced on Obama's initial remarks, which came a week after a dismal jobs report found the economy added only 69,000 jobs in May.
They compared the president's comment to Sen. John McCain's (R-Ariz.) election-changing comments when he said in 2008 "the fundamentals of our economy are strong."
For more on Obama's comments, click here.
