12/14/2008 05:12 am ET Updated May 25, 2011

Obama and Pelosi's First Conversation

Pelosi: Mr. President, so glad to have this first conversation with you about our agenda and priorities.

Obama: I am glad too. I look forward to working with you and the House to bring the change American needs.

Pelosi: There is so much we can now accomplish that has been impossible before. Increasing the minimum wage; a simple card check system for unionizing companies; a mandatory health care program; requiring right wing talk radio to have liberals on air, tighter regulation of Wall Street; capping CEO pay; enforcement of food and drug and environmental regulations; an excess profits tax on oil companies, protection against global warming...

Obama: (Finally interrupts) Yes. There is a long list. And I want to share with you my view of where we need to start. We need to show the American people that we can get things done that matter to them right now. That means focusing on home foreclosures -- it's hard to work if you have no place to live, making sure that small business has the capital it needs to create jobs; stimulating the economy the right way without the bailouts getting out of hand.

And this will happen a lot sooner if we can frame solutions in a way that brings Republicans with us. The people are tired of gridlock and of narrow interests being served at their expense.

Pelosi: Mr. President, with all due respect, my constituents in Congress and those who fund our campaigns have expectations too. It will be hard for me to bring all the Democrats in line, let alone Republicans, if we don't get our wish list after all these years.

Obama: Let me be clear: I am President of all the people. I will do everything within my power to make heroes of those who work for the common good. I don't need the credit.

I will make visible to the people who is helping. I am a big believer in transparency. I know this will not be easy for you and Harry (Reid). But this is a moment in history for you to play a crucial role in changing the way we serve all the people and getting us through the crisis.

Do I have your support for this approach?

Pelosi: (TBD)

We are all waiting for evidence of her answer.

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