'This Week' Transcript: Former Obama National Security Adviser Tom Donilon

COLE: Well look, you never get a second chance to make a first impression and the first impression here was terrible. And I think it's going to be an unfolding disaster for the president.

There are going to be some winners, there's no question about that, but there are going to be millions of losers, too. People are going to find their rates going up, people that have insurance they like are going to be losing it. It's one of the reasons for the postponement of the business mandate.

You know, the individual market is pretty tiny compared to what's yet to come. And I think as that unfolds, this thing is going to be an unmitigated political disaster for the president.

STEPHANOPOULOS: And will Democrats hold the line and continue to support (inaudible)?

ELLISON: I certainly believe so. I mean, the fact is that we have had health care nightmares for the last years, decades, and how people were going bankrupt and how they couldn't get covered and how they were being dropped. We're getting to a point where, yes there are a few problems we're working through now, but we can see the end of that era and to a new time when people will be able to get sick and get care and not worry about being dropped and not worrying about going bankrupt.

STEPHANOPOULOS: But you identified one of the problems right there. You're right, there have been problems with health care since as long as there has been health care. So now the government and the president are going to get blamed for every problem.

ELLISON: But I'm going to tell you this, I would rather have our hands in -- than the naysayers. And the reason why, this website is technology. It's going to get better. It's already better today. And we're only going to be working out more kinks as we go forward.

And if you look at the history here, you know, Republicans and conservatives, they said Social Security was socialism, Medicare was socialism and all of this kind of proclamations of doom, when now they are mainstream core programs.

STEPHANOPOULOS: And Peggy Noonan, one of the things you do see, even more Republican governs signing up accepting the program especially on Medicaid. We just saw Michigan signing up on top of Ohio and New Jersey, some big states there.

NOONAN: Yes. And lots of people will be making decisions based on money and the agreement they can get with the federal government.

But let me say something so old-fashioned, I always thought one of the central mistakes here was obsessing on the issue of insurance and not obsessing on the issue of health care and making sure everybody who gets into an accident, who has some trouble, who doesn't have money, can get treated in America.

It seems to me, we had some programs that could be deepened, broadened, made good, made better.

And insurance is complicated. And we are seeing in this whole website thing and in everything that follows, you can't control that market. It's a big, complicated, nutty, messy market. We shouldn't have government even have gone in there.

ELLISON: Peggy Noonan, I agree with you. I (inaudible)

(CROSSTALK)

NOONAN: Happy Thanksgiving to you fellows.

ELLISON: I'm going to tell you right now, I would support Medicare for all. I was ecstatic when we proposed Medicare go down (inaudible).

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