Transcript: Barbara Walters Interviews the Obamas

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PRESIDENT BARACK OBAMA: …An expert on sports. She doesn't care about it, but she knows about it, whether she likes it or not.

FIRST LADY MICHELLE OBAMA: I do care. I care deeply.

BARBARA WALTERS: Deeply. Do the girls watch?

FIRST LADY MICHELLE OBAMA: No, no.

BARBARA WALTERS: No.

FIRST LADY MICHELLE OBAMA: Mm-mm, no, not at all.

PRESIDENT BARACK OBAMA: Well, but Malia the other day came and sat and watched.

FIRST LADY MICHELLE OBAMA: That must've been…

PRESIDENT BARACK OBAMA: It was just to be nice to her daddy, yeah.

FIRST LADY MICHELLE OBAMA: Yeah.

BARBARA WALTERS: I have, I have one more sports question. LeBron James, how do you feel about the Miami Heat that they haven't done better?

PRESIDENT BARACK OBAMA: Well, yeah, it takes some time for a team to come together. There's no I in team, so no matter how good a, a player is, no matter how good a group of players are, if they haven't played together before, they're not going to be as good as a team that's played together a long time.

BARBARA WALTERS: Sounds like politics.

PRESIDENT BARACK OBAMA: Same thing.

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BARBARA WALTERS: You know there is news now of a Royal Wedding.

FIRST LADY MICHELLE OBAMA: Oh yes.

BARBARA WALTERS:…yes, in April. You have not met Kate or…?

FIRST LADY MICHELLE OBAMA: No.

BARBARA WALTERS:…or William…?

FIRST LADY MICHELLE OBAMA: No, mm mm.

BARBARA WALTERS: Do you want to give them a little message?

FIRST LADY MICHELLE OBAMA: We sent congratulations. Congratulations. And hopefully you will be as happy, as happily married as Barack and I.

PRESIDENT BARACK OBAMA: There you go.

BARBARA WALTERS: Awww, that's very nice.

FIRST LADY MICHELLE OBAMA: But they look like good friends, and that's a good thing.

BARBARA WALTERS: They look as if they are happy, don't they?

FIRST LADY MICHELLE OBAMA: Mm hmm.

BARBARA WALTERS: Your husband has said that you are his chief advisor. So what did you say to him the night of November 2nd, when he was -- as he put it -- "shellacked"?

FIRST LADY MICHELLE OBAMA: I said, "Let's, let's get to work. There is a lot to do." There… I, I think for, for us, it's always the focus on what we need to get done, the work ahead.

PRESIDENT BARACK OBAMA: Now keep in mind, that election night, I think she went to sleep. So.

BARBARA WALTERS: Did you really?

PRESIDENT BARACK OBAMA: She, she, she goes to sleep early.

FIRST LADY MICHELLE OBAMA: I go to bed early. I can't stay awake for the returns… I gotta get up, work out.

BARBARA WALTERS: So you didn't care less that the Democrats took over the House?

FIRST LADY MICHELLE OBAMA: I absolutely care, but I figured…

BARBARA WALTERS: And you did not… You had to find about it the next day…

FIRST LADY MICHELLE OBAMA: And it was gonna be whatever it was gonna be the next day. So I did, I did go to sleep.

BARBARA WALTERS: This man who was considered such a great communicator. What did he do wrong?

FIRST LADY MICHELLE OBAMA: It's a tough time. I mean, my understanding is that, number one, every president in history has lost Congress at the midterms. Maybe that's overstating it, but it's happened for every president in, in my lifetime.

PRESIDENT BARACK OBAMA: It's the norm.

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