He claims his recorded, clearly articulated, heart-felt words are being taken out of context. To paraphrase his Democrat predecessor, "It depends on the context of "context."".
In the context of reality, the context of the president's remarks is even worse than the bald meaning of "You didn't build that.". That's why he's saying he didn't say it. At question is the difference between meaning what you say and saying what you mean.
“Then you should say what you mean,” the March Hare went on.When the president says what he means he gets in trouble. As for meaning what he says? He does mean he didn't say "You didn't build that," and probably even believes it himself.
“I do,” Alice hastily replied; “at least—at least I mean what I say—that’s the same thing, you know.”