In the Q and A, Obama followed up with this,
I've instructed the justice department to look at the law carefully
Though, again, apparently the President doesn't want it to be such a close reading that the head of Justice read it.
The president also said this law "has the potential to be applied discriminatory". Isn't that the potential for all laws? Isn't that why we have a fourteenth amendment? Why is he singling out this law for something that can be applied to anything?