Barack Obama just began his press conference by noting the new unemployment figures and pushing Congress to pass a rescue for Detroit. (Much as Michelle predicted.) "I understand people's anger and frustration" at the auto industry, noting that he had pushed Detroit to build more fuel efficient cars early in his campaign. But, Obama continued, "at this moment of great challenge, we cannot simply stand by and watch this industry collapse. ... doing so would lead to a devastating ripple effect through the economy." He reiterated his pledge for "short-term assistance ... while holding companies accountable" and expressed his hope that Congress would pass an effort quickly.

--Jonathan Cohn