WASHINGTON – President Barack Obama made Mitt Romney's day by declaring "the private sector is doing fine" and opening himself to the accusation that he – not the rich Republican – is the one who is out of touch with reality. Obama quickly clarified his remark Friday but Republicans already had their teeth in it and weren't letting go.

"Is he really that out of touch?" GOP presidential candidate Mitt Romney asked as Obama's initial comments ricocheted through the presidential campaign.

Seeking to head off any damage, Obama backpedaled and declared it is "absolutely clear that the economy is not doing fine." While there had been some "good momentum" in the private sector, Obama said, public sector growth lagged behind, making it imperative that Congress act on his proposals to hire more teachers and first-responders.