President Obama took back statements he made earlier about the economy being "fine," but he's not the first politician to correct a slip-up. Tonight on John King, USA, we explore this and other political blunders. Tune in at 6pm ET/5pm CT.

Washington (CNN) – 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."

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