Update: Sorry, I totally get that the economy is not fine.

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You remember the first few days of the Iraq War (the second one), where Saddam Hussein’s Information Minister was forced to hold press conferences in front of burned out buildings, where he very clearly and handily assured the world that, no, the United States was not bombing the sh*t out of the country and no, they hadn’t captured the airport and yeah, anyone see that movie this weekend? It was pretty good, eh?

This is starting to look like that.

With Republicans seizing upon remarks he made earlier in the day that “the private sector is doing fine” – arguing that they show a president out of touch with an ailing economy — President Obama sought to clarify his remarks Friday afternoon.

“It’s absolutely clear the economy is not doing fine,” the president said while sitting alongside Philippines President Benigno Aquino in the Oval Office. “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.”

You gotta give him credit for trying.