Here is an excerpt from the transcript
http://transcripts.cnn.com/TRANSCRIPTS/0508/30/sitroom.03.htmlCAFFERTY: No, you don't think of it. But then, if you look back at the history, Wolf, I guess, in a way, they sort of were living on borrowed time.
1965 was the last big hurricane. The Army Corps of Engineers went in and built those levees to withstand a Category 3 storm. Apparently, that was all the technology and/or the budget would allow at the time. And Category 3 is not as strong as it gets. And one day, two days ago, the unthinkable happened.
And, you know, like I said, they've been living on borrowed time. You have to wonder, watching these pictures, and listening to these accounts, if we'll ever see the city of New Orleans as we all remember the Big Easy.
Where's President Bush? Is he still on vacation?
BLITZER: He's cut short his vacation. He's coming back to Washington tomorrow.
CAFFERTY: Well, that would be a good idea. He was out in San Diego, I think, at a Naval air station giving a speech on Japan and the war in Iraq today.
Based on his approval rating in the latest polls, my guess is getting back to work might not be a terrible idea. That's not the question of this hour, however.