Both campaigns are reacting to the sparks started by President Obama's campaign plans for the private sector, and a remark he made about the issue last week.

FOX News Radio's Liz White has this election update:

Audio clip:

From America's Election Headquarters...

Fielding questions after President Obama's comment that the private sector is "doing fine":

(Axelrod) "I agree with the President, who called the press conference on Friday to say that we need to take a series of very urgent steps to accelerate job creation in this country."

David Axelrod, the President's Senior Campaign Adviser, on CNN's "State of the Union."  Rick Santorum, telling ABC's "This Week" Mitt Romney's plan is "far superior":

(Santorum) "Lowering taxes and getting this economy going in the private sector, which has been dragging."

Romney released a web video blasting the "doing fine" remark, casting the President as out of touch, something the Obama campaign has tried against Romney.

Liz White, FOX News Radio.

WATCH more on the back-and-forth over the remark HERE:

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