ABC News' Robin Roberts: Mitt Romney just said that he deserves credit for the revival of the U.S. auto industry.

President Obama: (Laughs.)

Roberts: How do you respond to that?

The President: Well, you know I think this is one of those Etch-A-Sketch moments. I don't think anybody takes that seriously. People remember his position which was "let's let Detroit go bankrupt." So, had we followed his advice, at that time, GM and Chrysler would have gone under, and we would have lost probably a million jobs throughout the Midwest.