Senate Republican Leader Mitch McConnell, R-Ky., released the following statement tearing into President Obama for claiming that the private sector is "doing fine" during a press conference to address economic concerns.From McConnell's office: “Whether the President wants to acknowledge it or not, we are now living in the Obama Economy, and no ‘post-it note’ proposal can reverse the damage done by his policies over the past three and a half years. It’s baffling that in the face of all evidence to the contrary, this President still believes that spending money we don’t have to inflate the government is the answer to America’s economic problems. The economy would respond much more favorably to providing the tax certainty Americans deserve by extending all the tax rates and assuring employers they do not have to budget for the largest tax increase in American history next year. The Obama Economy is even slower now than when we extended the rates in 2010—raising taxes on job creators in this slow economy is simply not the elixir for his failed policies.”Several other GOP leaders, including presidential contender Mitt Romney, howled at the president's remarks as a sign Mr. Obama is out of touch with economic reality. The president was defending his record of creating 4.3 million jobs since taking office, but the gaffe has gained traction since this morning.Later in the day, Mr. Obama attempted to clarify: "Listen, it is absolutely clear that the economy is not doing fine," he said. "That’s the reason I had the press conference."