I'm Fred Ryan, Chairman of the Board of the White House

Historical Association.

The Association is honored to be part of today's historic

ceremony and to have played a role in arranging for the

magnificent portraits that are about to be unveiled.

The White House Historical Association was founded

50 years ago by First Lady Jacqueline Kennedy with two

specific missions.

The first is to educate and inform the public about the

history of the White House and the distinguished group

of Americans that have inhabited it.

In this regard, it is an exciting time for us as we mark

our 50th anniversary campaign for White House history.

To the north of the White House at the historic Decatur House we

have just launched the new David Rubenstein National Center for

White House History.

Next year, to the south of the White House,

we will open a newly redesigned White House visitors center.

It will give the millions of visitors to Washington each

year a chance to gain a broader understanding of life in the

White House.

If we can just acquire something on the east and west,

we'll have the place surrounded.

(laughter)

The other mission of the association is to provide

funds to preserve the White House public rooms and enhance

its incomparable collection of decorative and fine arts.

Over the five decades and ten presidents since our founding,

the Association is proud to have provided nearly $40 million in

financial support for refurbishing and making

important acquisitions for the White House.

Through the portraits of our presidents and first ladies,

it's a wonderful tradition that here in America's house our

country honors those who have honored us.

The tradition began with the acquisition of George

Washington's portrait in 1800.

It was purchased by the United States government.

It was viewed as such an important national treasure,

it was the object of Dolly Madison's greatest concerns

when the British burned the White House in 1814.

The White House Historical Association has been privileged

to commission the official portrait of every president

and first lady over the last 50 years,

and to acquire historical portraits of those who were

previously missing from the White House collection.

In our digital world, where so many images are mere flashes

on a screen, these enduring portraits of great Americans by

acclaimed artists are lasting tributes to our presidents and

first ladies and will forever be part of the

White House collection.

Today, the portraits of President George W.

Bush and First Lady Laura Bush will be added to this unique

collection of those who have occupied this house and served

our nation with distinction.

And to those great presidential portrait artists whose works

here include Gilbert Stuart, John Singer Sargent and Aaron

Shikler we now add John Howard Sanden.

So today's event may once again prompt one of those

great debates that's taken place often within the White House.

Strong arguments will be made on both sides.

It's not a debate over issues or between parties.

It's a debate as to whether the portrait actually looks like the

President and First Lady.

(laughter)

And we will soon find that out.

It is now my distinct pleasure to introduce the President of

the United States.

(applause)

President Obama: Thank you.

Thank you so much.

(applause)

Thank you.

Please, everybody, have a seat.

Well, good afternoon, everybody.

Thank you, Fred, for that introduction.

To President George H.W. Bush and Barbara,

to all the members of the Bush family who are here --

it is a great privilege to have you here today.

And to President and Mrs. Bush, welcome back to the house that

you called home for eight years.

The White House is many things at once.

It's a working office, it's a living museum,

it's an enduring symbol of our democracy.

But at the end of the day, when the visitors go home and the

lights go down, a few of us are blessed with the tremendous

honor to actually live here.

I think it's fair to say that every President is acutely aware

that we are just temporary residents -- we're renters here.

We're charged with the upkeep until our lease runs out.

But we also leave a piece of ourselves in this place.

And today, with the unveiling of the portraits next to me,

President and Mrs. Bush will take their place alongside men

and women who built this country and those who worked

to perfect it.

It's been said that no one can ever truly understand what it's

like being President until they sit behind that desk and feel

the weight and responsibility for the first time.

And that is true.

After three and a half years in office -- and much more

gray hair --

(laughter)

-- I have a deeper understanding of the challenges faced by the

Presidents who came before me, including my immediate

predecessor, President Bush.

In this job, no decision that reaches your desk is easy.

No choice you make is without costs.

No matter how hard you try, you're not going to make

everybody happy.

I think that's something President Bush and I both

learned pretty quickly.

(laughter)

And that's why, from time to time,

those of us who have had the privilege to hold this office

find ourselves turning to the only people on Earth who know

the feeling.

We may have our differences politically,

but the presidency transcends those differences.

We all love this country.

We all want America to succeed.

We all believe that when it comes to moving this country

forward, we have an obligation to pull together.

And we all follow the humble, heroic example of our first

President, George Washington, who knew that a true test of

patriotism is the willingness to freely and graciously pass

the reins of power on to somebody else.

That's certainly been true of President Bush.

The months before I took the oath of office were

a chaotic time.

We knew our economy was in trouble,

our fellow Americans were in pain,

but we wouldn't know until later just how breathtaking

the financial crisis had been.

And still, over those two and a half months -- in the midst of

that crisis -- President Bush, his Cabinet, his staff,

many of you who are here today, went out of your ways -- George,

you went out of your way -- to make sure that the transition to

a new administration was as seamless as possible.

President Bush understood that rescuing our economy was not

just a Democratic or a Republican issue;

it was a American priority.

I'll always be grateful for that.

The same is true for our national security.

None of us will ever forget where we were on that terrible

September day when our country was attacked.

All of us will always remember the image of President Bush

standing on that pile of rubble, bullhorn in hand,

conveying extraordinary strength and resolve to the American

people but also representing the strength and resolve of

the American people.

And last year, when we delivered justice to Osama bin Laden,

I made it clear that our success was due to many people in many

organizations working together over many

years -- across two administrations.

That's why my first call once American forces were safely out

of harm's way was to President Bush.

Because protecting our country is neither the work of one

person, nor the task of one period of time,

it's an ongoing obligation that we all share.

Finally, on a personal note, Michelle and I are grateful

to the entire Bush family for their guidance and their example

during our own transition.

George, I will always remember the gathering you hosted for all

the living former Presidents before I took office,

your kind words of encouragement.

Plus, you also left me a really good TV sports package.

(laughter)

I use it.

(laughter)

Laura, you reminded us that the most rewarding thing about

living in this house isn't the title or the power,

but the chance to shine a spotlight on the issues that

matter most.

And the fact that you and George raised two smart,

beautiful daughters -- first, as girls visiting their

grandparents and then as teenagers preparing to head out

into the world -- that obviously gives Michelle and I tremendous

hope as we try to do the right thing by our own daughters in

this slightly odd atmosphere that we've created.

Jenna and Barbara, we will never forget the advice you gave Sasha

and Malia as they began their lives in Washington.

They told them to surround themselves with loyal friends,

never stop doing what they love; to slide down

the banisters occasionally --

(laughter)

-- to play Sardines on the lawn; to meet new people and try new

things; and to try to absorb everything and enjoy all of it.

And I can tell you that Malia and Sasha took that

advice to heart.

It really meant a lot to them.

One of the greatest strengths of our democracy is our ability to

peacefully, and routinely, go through transitions of power.

It speaks to the fact that we've always had leaders who

believe in America, and everything it stands for,

above all else -- leaders and their families who are willing

to devote their lives to the country that they love.

This is what we'll think about every time we pass these

portraits -- just as millions of other visitors will do in

the decades, and perhaps even the centuries to come.

I want to thank John Howard Sanden,

the artist behind these beautiful works,

for his efforts.

And on behalf of the American people,

I want to thank most sincerely President and Mrs. Bush for

their extraordinary service to our country.

And now I'd like to invite them on stage to take part

in the presentation.

(applause)

(portraits are unveiled)

(applause)

President Bush: Thank you, sit down.

Sit down.

Behave yourselves.

(laughter)

Mr. President, thank you for your warm hospitality.

Madam First Lady, thank you so much for inviting

our rowdy friends --

(laughter)

-- to my hanging.

(laughter)

Laura and I are honored to be here.

Mr. Vice President, thank you for coming.

We are overwhelmed by your hospitality.

And thank you for feeding the Bush family,

all 14 members of us who are here.

(laughter)

I want to thank our girls for coming.

I thank Mom and Dad, brother, sister, in-laws,

aunts and uncles.

I appreciate you taking your time.

I know you're as excited as Laura and me to be able to

come back here, and particularly thank the people who helped make

this house a home for us for eight years,

the White House staff.

I want to thank Fred Ryan and the White House Historical

Association and Bill Allman, the White House curator.

I am pleased that my portrait brings an interesting symmetry

to the White House collection.

It now starts and ends with a George W.

(laughter and applause)

When the British burned the White House,

as Fred mentioned, in 1814, Dolley Madison famously saved

this portrait of the first George W.

(laughter)

Now, Michelle, if anything happens there's your man.