President Obama (Getty)

A video clip of President Obama supposedly calling Americans "a little bit lazy" has become favored fodder for his Republican rivals. Some say the clip was taken out of context, but that hasn't stopped G.O.P. candidates from using the footage on the campaign trail.

President Obama's controversial clip came from a Q&A at the Asia Pacific Economic Cooperation summit in Hawaii Monday when he was asked about China's perception that there are impediments to investing in the United States.

"I think it's important to remember that the United States is still the largest recipient of foreign investment in the world. And there are a lot of things that make foreign investors see the U.S. as a great opportunity -- our stability, our openness, our innovative free market culture. But we've been a little bit lazy, I think, over the last couple of decades. We've kind of taken for granted -- well, people will want to come here and we aren't out there hungry, selling America and trying to attract new business into America," President Obama said.

Rick Perry used a three second excerpt of the clip in a new ad released Wednesday.

"Do you believe that? That's what our President thinks wrong with America? That Americans are lazy? That's pathetic," Mr. Perry said in the ad. "Obama's socialist policies are bankrupting America. We must stop him now."

Mitt Romney also referenced President Obama's remarks in a campaign speech as did several Republican Congressional candidates and Senate hopefuls.

Watch video of Mr. Perry's new ad below.