TRANSCRIPT: Charles Gibson Interviews President George W. Bush and First Lady Laura Bush

PRESIDENT GEORGE BUSH: No, you can't. Uh, it's, it's, you just have to -- I mean but this has been the case throughout the presidency. Till you actually get in there, and understand the responsibilities that come with the office, you can't possibly, you can't possibly comprehend it, I'll tell you one thing that'll surprise 'em if they've got an open heart, is that the prayers of the people will affect 'em in a positive way. That has been one of the most surprising aspects of the presidency for me.

CHARLES GIBSON: Do you see it on wearing on him?

FIRST LADY LAURA BUSH: Sure. [LAUGHTER]

PRESIDENT GEORGE BUSH: I thought I was doing pretty good. [LAUGHTER]

FIRST LADY LAURA BUSH: He's doing great but, I mean the seven years have flown by, they really have --

CHARLES GIBSON: Have they --

FIRST LADY LAURA BUSH: -- and we know this last year will fly by too.

PRESIDENT GEORGE BUSH: You know, just last year I was thinking about, how to deal with Iraq, I -- you know, I was, I was part of the people who didn't approve of Iraq. And when they asked the endless questions, do you approve of Iraq I was one, no, I didn't approve of what's going on. And wanted to do something about it and was confronted with a serious, decision. It was just a year ago … that I was, you know … listening to people and getting ready to make the -- make the decision, and it just seemed like … it was just yesterday, I mean it's unbelievable how much time's passed --

CHARLES GIBSON: If a person has an opportunity, in the role of the First Lady to observe the President and what he goes through for eight years…does that experience prepare the person to be president? I—I'm speaking …

FIRST LADY LAURA BUSH: Yes, in the --

CHARLES GIBSON: -- of course in the abstract --

FIRST LADY LAURA BUSH: -- totally, yeah, exactly, totally in the abstract. I think you, you certainly know what it's like, I mean there's no doubt about it, you know, you know the pressure, there is, you know the difficulties, you know the… You're very aware, and we certainly were this way too watching George's dad, I mean we were very, always very aware of what it was like to serve both the burdens of it and the great parts about it as well, and the wonderful opportunities you had, when you live in the White House and when you have the chance to meet people everywhere --

CHARLES GIBSON: So if the First Lady were to run, previous First Lady were to run for President, that that experience is very helpful.

FIRST LADY LAURA BUSH: I think it's very helpful, I mean I think it was very helpful for us to have been … around the White House as much as we were when his parents served there --

PRESIDENT GEORGE BUSH: And that's what I meant by she --

PRESIDENT GEORGE BUSH: -- she understands the klieg lights and the pressure --

FIRST LADY LAURA BUSH: That's right.

PRESIDENT GEORGE BUSH: Having said that I do believe our candidate will beat her, if she happens to be the nominee. But --

CHARLES GIBSON: Whoever that candidate may be --

PRESIDENT GEORGE BUSH: Whoever -- whoever he may be in this case. [LAUGHTER] No question. There is no question, that, Senator Clinton, understands pressure better than any of the candidates, you know, in the race because she … she under -- she lived in the White House and sees it first -- could see it first-hand.

CHARLES GIBSON: What's the best part of being President?

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