Obama to supporters: I understand your frustration

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[ SOURCE ] Easing into his 2012 campaign, President Barack Obama is telling his supporters he understands their frustration over the compromises he's made with Republicans, while preparing them for more to come.

During a raucous fundraiser focused on young people in San Francisco Wednesday night, Obama said his supporters are not alone in their frustration.

"There are times when I've felt the same way you do. It's a big, complicated, messy democracy," he said. "We knew this wouldn't be easy."

Obama's rallying cry is that more work needs to be done in order to make the vision of America he promised a reality, and he is the only one who can see those hopes through.

"It is going to take more than a couple of years," Obama said. "It's going to take us more than one term to finish everything that we need to do."

Obama was coupling his fundraising efforts with a series of town hall meetings aimed at selling his plan for cutting deficit spending directly to a wary public.

"The deficit is real, our debt is real. We've got to do something about it. But how we do it is going to make a huge difference," Obama said during a smaller, high-dollar fundraiser Wednesday night.