'The economy is not doing fine,' Obama clarifies
Jun-11-2012

President Barack Obama, walking back his assertion at a press conference the "private sector's doing fine," acknowledged Friday that "it is absolutely clear that the economy is not doing fine."
The struggling economy, he clarified, is "why I had the press conference."
"That's why I spent yesterday, the day before yesterday, this past week, this part month, this past year talking about how we can make this economy stronger," Obama said in the Oval Office. "The economy is not doing fine. There are too many people out of work. The housing market is still weak, there are too many homes underwater."
In the press conference Friday morning, Obama touted job growth in the private sector of the economy, describing the public sector - state and local governments - as the weight dragging the economy.

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