In a televised speech, Egyptian President Hosni Mubarak announced that he would be staying in office, stunning the country and the rest of the world.

He mentioned in his speech that vice president Omar Suleiman would be transferred his powers of state, but did not mention exactly what powers would be transferred.

President Obama was unsatisfied with the vague wording of the speech, and raised questions of whether the power shift would be “immediate, meaningful or sufficient” to reform the turbulent country.

After the speech, Obama issued a statement criticizing the words of Mubarak for not providing a concrete path for the people of Egypt.

Despite transferring power to his vice president, Mubarak will remain in the president’s chair until the next election, which will take place in September.

Too many Egyptians remain unconvinced that the government is serious about a genuine transition to democracy,” stated Obama, “and it is the responsibility of the government to speak clearly to the Egyptian people and the world.”

Thousands of protestors are camped out at the Presidential Palace, vowing to make the protests on Friday the biggest the country has seen.

Mubarak has ruled Egypt for almost 30 years, and the White House warns the leaders of Egypt that the protests will continue until he is out of power.