I think this article does a good job of capturing the President's current economic mood: worried, but determined to make progress.
FOCUS | President Barack Obama: Toward a Better Day
President Barack Obama, in his weekly address to the nation Saturday, said: "Yesterday, we learned that the economy lost another 651,000 jobs in the month of February, which brings the total number of jobs lost in this recession to 4.4 million. The unemployment rate has now surpassed 8 percent, the highest rate in a quarter century. These aren't just statistics, but hardships experienced personally by millions of Americans who no longer know how they'll pay their bills, or make their mortgage, or raise their families."