ABC News’ Jake Tapper: Well, you’re in a good mood right now, but on the trail you seemed a little. . . there’s a little edge. There’s a little tone of frustration and one of your friends told me that you are deeply frustrated and worried about the economy. You know, you swim in this economic data. How concerned are you and how worried should people be that we might be that we might be heading into a double dip?

President Obama: Even if we don’t go into a double dip, what I feel is what the American people feel, which is that we have now gone through not only two-and-a-half, three years of post recession blues where housing crashed. People have lost the value of their homes, they’ve lost their jobs, all the struggles and strains that people are going through every day, but even before the crisis the hit, for a decade, people have seen their wages flat line, their incomes flat line. . . .

I guarantee it’s going to be a close election because the economy is not where it wants to be and even though I believe all the choices we’ve made have been the right ones, we’re still going through difficult circumstances. That means people who may be sympathetic to my point of view still kind of feel like, yeah, but it still hasn’t gotten done yet. This is going to be a close election and a very important one for the American people. The thing I hope the most is that everyone is going to be paying close attention to the debate that takes place because it could determine not just what happens over the next four years, but what’ll happen over the next 20 or 30 years.