Obama Suddenly Realizes That The Private Sector Isn’t Doing Fine

Well, that didn’t take long:

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.

“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

Exclusive Video:

FILED UNDER: Campaign 2012, Economics and Business, US Politics,
Doug Mataconis
About Doug Mataconis
Doug Mataconis held a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May 2010 and contributed a staggering 16,483 posts before his retirement in January 2020. He passed far too young in July 2021.


  1. al-Ameda says:

    Yes, it is clear that the collapse of the financial and housing markets in 2008 are still having an effect on our economy today. $14 trillion in wealth and income was lost in the crash, the fact that we have anemic growth should come as no surprise to anyone with a pulse.

  2. Ben Wolf says:

    He does respond more quickly to blunders than Romney. I suppose that’s a good thing.

  3. al-Ameda says:

    @Ben Wolf:
    Not withstanding the fact that Obama did not blunder in his comment, you’re exactly right.

  4. Tsar Nicholas says:

    Great SNL clip. I miss Gilda. She was the best.

    Probably the greatest irony with all this is that Obama can’t really be blamed for being so completely clueless about how the private sector operates much less how to make it successful. Getting involved at a very young age with machine Chicago politicos is not exactly in that regard a good education or a good training platform.

  5. rudderpedals says:

    Infatuation with the political equivalent of a BBS or netnews spelling flame must mean silly season is really here.

    Imagine Emily trying to engage with someone who has ADD like the pundits behind this meme

  6. Herb says:

    Etch a Sketch!

    (Sorry….still trying to embrace the new “let’s take things out of context and act like children” mode.)