It looks like the feds will not be worrying much about those folks who choose to smoke pot in Colorado and Washington state, where new laws decriminalize possession of small amounts of marijuana.

"We've got bigger fish to fry," President Obama tells ABC News' Barbara Walters during an interview set to air on 20/20 at 10 p.m. ET tonight.

Though it's still a federal crime to use or possess pot, "it would not make sense for us to see a top priority as going after recreational users in states that have determined that it's legal," the president tells Walters.

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