President Obama has now backtracked on his statement during his press conference when he said “the private sector is doing fine.” The GOP and Mitt Romney wasted no time using President Obama’s own words against him by making web ads. Now the President admits that the economy is not doing fine, and that was why he had the press conference in the first place. “It’s absolutely clear the economy is not doing fine,” President Obama said. “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.”