He told supporters in Springfield, Va., that the gap in the number of votes between him and the Democratic incumbent, Sen. Mark Warner, had grown and "I know that a change in outcome is not possible."
Speaking one day after his party lost control of the Senate to the Republican Party, President Obama says he's not "mopey" over the trouncing Democrats endured but rather energized.
One day after the GOP took control of Congress, presumptive Senate Majority Leader Mitch McConnell says Republicans are willing to work with President Obama on some issues.
The midterms marked a drubbing for Democrats. Republicans picked up at least seven Senate seats, wresting control of the chamber and setting up a divided government for at least the next two years.