Barack Obama
President Obama said if congressional leaders cannot agree before March 1 to avert the defense sequester then should pass a stopgap measure that will give them time. REUTERS

President Barack Obama and First Lady Michelle Obama sat down with ABC News host Barbara Walters for a candid interview on Wednesday.

Obama discussed a now infamous picture of he and Michelle embracing on a stage at a campaign event this past summer.

The photo was tweeted on Election Night when he beat former Massachusetts Gov. Mitt Romney and was re-elected for a second term. “Four more years,” read the caption.

The photo was taken at a campaign event on Aug. 15 in Iowa. The tweet quickly become the most popular of all time, according to, after it was retweeted over half a million times.

When Walters asked Obama why he was hugging Michelle so hard, he replied, "Because I love my wife."

"The first time I saw him was when I walked on stage to greet him," Michelle said. "And that's my honey giving me a hug."

Walters also asked the president how he and his wife keep the fire going in their marriage.

"We've been married now twenty years, and like every marriage you have your ups and you have your downs, but if you work through the tough times the respect and love that you feel deepens,” Obama replied.

Watch the rest of the exclusive interview with Barbara Walters below: