President Bush went on to say Republicans had suffered a “thumping” and vowed to work with the new Congress. He was questioned by CNN’s Suzanne Malveaux.

Suzanne Malveaux: “With all due respect, Nancy Pelosi has called you incompetent, a liar, the emperor with no clothes and, as recently as yesterday, dangerous. How will you work with someone who has such little respect for you leadership and who is third in line to the presidency?”

President Bush: “I’ve been around politics a long time. I understand when campaigns end and I know when governing begins. And I’m going to work with people of both parties. You know, look, people say unfortunate things at times. But if you hold grudges in this line of work, you’re never going to get anything done.”

The President is expected to meet Pelosi later today. On Wednesday, Pelosi pledged to work with the White House.

Rep. Nancy Pelosi: “Democrats are ready to lead. We’re prepared to govern, but that means in a bi-partisan way in the system that is self-evident. The President is the President of the United States. I hope he would listen to the voices of the people, and that again, putting aside partisanship, and looking to a partnership to end this war.”