Have you seen this excellent commercial put out by the GOP? It is nearly exactly the same as the ad put out by Obama in 2008 against John McCain.
Now, if you're like me, you wonder what Obama said after this incriminating line. You want to make sure it is not out of context.
It wasn't. Here's the rest of the statement: “Where we’re seeing weaknesses in our economy have to do with cuts in state and local government." So, Obama's reason for our weak economy is that we don't have a big enough government. Apparently, our anemic private sector is doing just fine, but our public sector employees (that are getting paid 55%* more than the equivalent private sector employee) is not large enough.
To be fair, President Obama tried to clarify his remarks. But it plays right into the bold text above.
Mr. Obama sought to clarify the remarks later in the day, saying "it is absolutely clear that the economy is not doing fine." He nonetheless again noted the rebound in private-sector job growth and corporate profits to contend that the private sector has "not been the biggest drag on the economy."http://online.wsj.com/article/SB10001424052702303665904577454624044933902.html
* Percentage obtained by taking average salary and health benefits as indicated in this article. http://www.usatoday.com/news/nation/2010-03-04-federal-pay_N.htm. It should be noted this article also has a handy graph which shows that most public sector employees get paid more.