Obama clarifies: ‘The economy’s not doing fine’

On defense over the defining issue of his reelection fight, President Barack Obama clarified Friday that "the economy is not doing fine" and accused Republicans of playing "political games" by turning his own earlier words against him.

Obama had triggered the onslaught a few hours beforehand by telling reporters that "the private sector is doing fine" and that "where we're seeing weaknesses in our economy" is in cash-strapped states and cities that are cutting jobs for teachers, firefighters, police and other workers.
Republicans, including Mitt Romney, pounced on the remark, saying it showed the president was out of touch.
So, in a brief photo opportunity, Obama revisited the issue.
"It is absolutely clear that the economy is not doing fine. That's the reason I had the press conference," said the president, who had called reporters together to press Congress to pass his stalled jobs program.
"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," he said.
"The economy is not doing fine. There are too many people out of work. The housing market is still weak and too many homes underwater. And that's precisely why I asked Congress to start taking some steps that can make a difference," Obama said. But he also insisted that "we've actually seen some good momentum in the private sector."

Read more: http://news.yahoo.com/blogs/ticket/obama-clarifies-economy-not-doing-fine-211116879.html