Update: From CBS News:

Egypt’s military says it will usher “political transition” if President Morsi doesn’t respond to opposition demands in 48 hours

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On Sunday an estimated 14 million Egyptians took to the streets on the anniversary of Egyptian President Mohamed Morsi’s inauguration to call for him to step down. The protesters not only opposed Morsi but objected to the Muslim Brotherhood’s agenda for the country.

Waving national flags and chanting “Get out!”, a crowd of nearly 500,000 massed in and around Cairo’s central Tahrir Square in by far the largest demonstration since the 2011 uprising that overthrew Mursi’s predecessor, Hosni Mubarak…

A military source said as many as 14 million people in this nation of 84 million took part in Sunday’s demonstrations in sweltering heat. There was no independent way to verify that estimate, which seemed implausibly high, but the armed forces used helicopters to monitor the crowds.

The massive protests are taking President Morsi to task for a presidency that is coming in below expectations. The Muslim Brotherhood is also becoming a focus for anger as the Brotherhood’s headquarters in Cairo came under attack and was set on fire and looted.

Protesters seeking to force Egyptian President Mohamed Morsi from office are gearing up for a second day of action, after large crowds thronged the streets of Cairo and cities around the country and marched on the presidential palace.

In the capital, the seat of the powerful Muslim Brotherhood to which Morsi belongs, was set ablaze before people stormed and looted the building, an AFP correspondent there said. People were seen leaving with petrol bombs, helmets, flak jackets, furniture, televisions and documents.

Protests are set to continue into Monday and beyond until President Morsi steps down.

It appears the Egyptian people were serious about their revolution and were not looking to trade one poor leader for another. While President Morsi has now admitted he has made mistakes and is trying to fix them it may be too late. Protesters are equating Morsi with former President Hosni Mubarak for his attempts at consolidating power and inability to manage the economy. The protests will continue, what happens next is anyone’s guess.