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Day 53: Obama Says Economy Causing "Incredible Pain"

(AP Photo/Gerald Herbert)
On his fifty-third day in office, President Obama said the while the economy is causing families "incredible pain and hardship," the government is acting to help.

Echoing comments this morning by his top economic advisor, Larry Summers, the president also said, "If we are keeping focused on all the fundamentally sound aspects of our economy, all the outstanding companies, workers, all the innovation and dynamism in this economy, then we're going to get through this. And I'm very confident about that."

Also today, news broke that the Obama administration was abandoning the phrase "enemy combatant" in the context of the war on terror; in legal filings, the Justice Department said the term would no longer be used to justify holding prisoners at Guantanamo Bay.

Below, check out Chip Reid's CBS Evening News report on the president's day.

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