President Obama concedes that Washington today “feels as broken as it did four years ago” despite his efforts and, in an interview with CBS News, admits that he “underestimated” what it would take to turn things around. He also acknowledges that one of Mitt Romney’s central arguments about the economy is a legitimate point.

The president’s comments came in an interview by CBS This Morning co-host Charlie Rose, which CBS has been releasing in snippets since Friday. The latest parts were shown on CBS Sunday Morning with Charles Osgood on Sunday. First lady Michelle Obama joined the president for the interview, most of which was conducted in the Blue Room.

“I think there’s no doubt that I underestimated the degree to which in this town politics trump problem solving,” Obama told Rose when he was reminded of the high hopes voiced in his 2008 campaign. “Washington feels as broken as it did four years ago,” he said.

“And, if you asked me what is the one thing that has frustrated me most over the last four years it’s not the hard work, it’s not, the enormity of the decisions, it’s not the pace,” he continued. “It is that I haven’t been able to change the atmosphere here in Washington to reflect the decency and common sense of ordinary people—Democrats, Republicans and Independents—who I think just want to see their leadership solve problems. And there’s enough blame to go around for that.”

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