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Etrade offers Investment Advice and guidance from dedicated, professional financial consultants. Its guidance on your terms, not ours. Thats how our system works. Etrade. Less for us. More for you. Kroft there are few people we think we know more about than president barack obama and outgoing secretary of state hillary clinton, and everyone has an opinion about their politics, their marriages, and a rivalry that is one of the richest in american history. On friday we had the opportunity to sit down with the two of them side by side. The white house offered us 30 minutes, barely enough time to scratch the surface of their complicated personal and professional relationship, let alone discuss their policies on iran and israel, russia and china, egypt and libya. There has been much speculation about their evolution from bitter opponents to partners in the corridors of power and the motivation for doing this interview. Now you can be the judge. This is very improbable. This is not an interview i ever expected to be doing. But i understand, mr. President , this was your idea. Why did you want to do this together, a joint interview . Obama well, the main thing is, i just wanted to have a chance to publicly say thank you, because i think hillary will go down as one of the finest secretary of states weve had. It has been a great collaboration over the last four years. Im going to miss her. I wish she was sticking around. But she has logged in so many miles, i cant begrudge her wanting to take it easy for a little bit. But i want the country to appreciate just what an extraordinary role shes played during the course of my administration, and a lot of the successes weve had internationally have been because of her hard work. Kroft theres no political tea leaves to be read here . Clinton we dont have any tea. Weve got some water here is the best i can tell. But, you know, this has been just the most extraordinary honor. And, yes, i mean, a few years ago it would have seen seen as improbable, because we had that very long, hard primary campaign. But, you know, ive gone around the world on behalf of the president and our country, and one of the things that i say to people, because i think it helps them understand, i say, look, in politics and in democracy, sometimes you win elections, sometimes you lose elections. And i worked very hard, but i lost. And then president obama asked me to be secretary of state, and i said yes. And so this has been just an extraordinary opportunity to work with him as a partner and friend, to do our very best on behalf of this country we both love. And its something im going to miss a great deal. Kroft its no secret that your aides cautioned you against. Actually were against you offering secretary clinton this job, and you were just as determined not to take it. And you avoided taking her phone calls for a while, because you were afraid she was going to say no. Why were you so insistent about wanting her to be secretary of state . Obama well, i was a big admirer of hillarys before our primary battles and the general election. You know, her discipline, her stamina, her thoughtfulness, her ability to project, i think, and make clear issues that are important to the American People i thought made her an extraordinary talent. She also was already a world figure. And i thought that somebody stepping into that position of secretary of state at a time when, keep in mind, we were still in iraq, afghanistan was still an enormous challenge, and there was great uncertainty in terms of how we would reset our relations around the world to have somebody who could serve as that effective ambassador in her own right without having to earn her stripes, so to speak, on the international stage, i thought would be hugely important. Kroft youve been quoted as thinking or telling people that there was no way you were going to take this job, and you werent going to let anybody talk you into it. Clinton well, i would. Kroft what did he say that night that made you. Clinton well, i was so surprised, because, you know, after i ended my campaign, i immediately did everything i could to help the president get elected, because, despite our hardfought primary, we had such agreement on what needed to be done for our country. Obama made for tough debates, by the way, because we. Clinton it did. Obama we could never figure out what we were different on. Clinton yeah, we worked at that pretty hard. And so, i really thought id be going back to the senate, where i would be supporting the president on all of the issues. And what surprised me is, he said, well, i want you to come to chicago. And honestly, at the time, i thought, well, you know, thats a very nice gesture. Maybe he wants to ask me about some people that might serve in the administration. So when i got to chicago and he asked me if i would consider being his secretary of state, i immediately said, oh, mr. President , theres so many other people. Let me give you some other names. Because it just took me by surprise. But he is pretty persuasive, ill tell you that much. And he kept saying, well, i want you to think about it again. I want you to wait a minute. Dont make. Dont give me a final answer. Ill tell you what i finally thought. I thought, you know, if the roles had been reversed, and i had ended up winning, i would have desperately wanted him to be in my cabinet. So if im saying i would have wanted him to say yes to me, how am i going to justify saying no to my president . And it was a great decision, despite my hesitancy about it. Kroft what did he promise you . And has he kept the promises . Clinton it was going to be hard. But, you know. Obama and i kept that promise. Clinton welcome to hard times, i mean, because the one thing he did mention was, he basically said, you know, weve got this Major Economic crisis that may push us into a depression. Im not going to be able to do a lot to satisfy the builtup expectations for our role around the world, so youre going to have to get out there and, you know, really represent us while i deal with, you know, the economic catastrophe i inherited. But, you know, were both gluttons for punishment. And, you know, my assessment was, look, we are in a terrible fix. You know, i felt like this president was going to get us out of it, but it wasnt going to be easy. And it was going to need everybody, you know, pulling together. Kroft has she had much influence. Obama well, i. Kroft in this administration . Obama i think everybody understands that hillary has been, you know, one of the most important advisors that ive had on a whole range of issues. Hillarys capacity to travel around the world to lay the groundwork for a new way of doing things; to establish a sense of engagement that, you know, our Foreign Policy was not going to be defined solely by iraq; that we were going to be vigilant about terrorism, but we were going to make sure that we deployed all elements of American Power diplomacy, our economic and cultural and social capital in order to bring about the kinds of International Solutions that we wanted to see. I had confidence that hillary could do that. And, you know, one of the things that i will always be grateful for is. Yeah, it wasnt just that she and i had to integrate. I mean, we had bob gates, who was a holdover from the bush administration, you know, leon panetta to take over the c. I. A. , and so we had a lot of very strong personalities around the table. You know, i think one of the things that hillary did was establish a standard in terms of professionalism and teamwork in our cabinet, in our Foreign Policy making that said were going to have an open discussion, were going to push each other hard; there are going to be times where we have some vigorous disagreements. Once the president makes a decision, though, were going to go out there and execute. Kroft how would you characterize your relationship right now . Obama i consider hillary a strong friend. Clinton i mean, very warm, close. I think theres a sense of understanding that, you know, sometimes doesnt even take words, because we have similar views. We have similar experiences that, i think provide a bond that may seem unlikely to some, but has been really at the core of our relationship over the last four years. I mean, ive read a lot about other president s, and ive, you know, been in the white house as a first lady. And i was a senator in the time of 9 11 and spent time in the white house under the bush administration. And i know how critical it is to really forge that sense of discipline that the president is referring to. Are there going to be differences . Yeah. Deep differences . Of course. You had a lot of strongwilled, minded people. But the president deserves our best judgment, our advice, and then he deserves us to stand with him and to execute. Now, ive watched other administrations where there was pitched warfare between this cabinet secretary and another or this member of the white house. Thats not good for the country. And its not something that would have served this president. Kroft i mean, its one thing to have disagreements between cabinet people. I spent time with both of you in the 2008 campaign. That was a very tough, bitter race, and im going to spare you reading some of the things that you said about each other during that campaign. Clinton please do. Kroft but how long did it take you to get over that . And when did it happen . Obama you know, it didnt take as long as i think people would perceive it. As i said once. Once the primary was over, hillary worked very hard for me. Bill worked very hard for me. So we were interacting on a fairly regular basis. I think it was harder for the staffs, which is understandable because, you know, they get invested in this stuff in ways that i think the candidates maybe dont. You know, hillary mentioned, you know, part of our bond is, weve been through a lot of the same stuff. And part of being through the same stuff is getting whacked around in political campaigns, being criticized in the press. You know, weve both built some pretty thick skins, and, you know, sometimes our staffs dont go through that so they are taking umbrage and offense. And. chuckle and theyre reading every blog and every tweet. You know, and most of the time, you know, hillary, i suspect, you know, handles this the same way i do, you know . We kind of have a block, a screen from a lot of the silliness that happens during president ial campaigns. And so, for me, at least, you know, by the time. By the time hillary joined the administration, i felt very confident and comfortable in. In our working relationship. I think what did evolve was a friendship as opposed to just a professional relationship. Friendships involve a sense of trust and being in the foxhole together, and that emerged during the course of months when we were making some very tough decisions. Kroft you said the staff took a little longer to ignore, to forget the campaign stuff. What about the spouses . Is that an impertinent question . Clinton what i was going to. What i was going to say, steve, is, having been a spouse, having been a candidate, i think spouses take it much harder. You know, in a away. Obama theres no doubt. Clinton . Just as the president said, were out there, and were responding minute by minute. And you just dont have time to sit around and, you know, think about what, you know, some insult that youve felt youve suffered. I can remember, you know, watching my husband do debates. And i mean, i was like this. And he was relaxed and everything like that. And then, when the shoes were on the other feet, all of a sudden, you know, this calm, cool guy who never was upset by anything is all of a sudden watching me. So, look, but that is just ancient history now. And its ancient history because of who. The kind of people we all are, but also were professionals. Kroft this administration, i mean, youve generally gotten high marks, particularly from the voters, for your handling of Foreign Policy. But theres no big singular achievement that. In the first four years that you can put your names on. What do you think the biggest success has been, Foreign Policy success, of the first term . Obama for us to be able to wind down one war, to be on the path of ending a second war, to do that in a way that honors the sac. Enormous sacrifices our troops have made, to sustain the pressure on al qaeda and terrorist organizations so that not only did we avoid a significant terrorist attack on the homeland, but were able to dismantle the core leadership of al qaeda. Thats all a consequence of the great work that hillary did and her team did and the state department did in conjunction with our National Security team. Kroft whats the. I have to ask you, whats the date of expiration on this endorsement . Clinton oh, steve, what. You know. laughs you know. Kroft no, no, i have to ask that question. I mean, come on. I mean, youre sitting here together. Everybody in town is talking about it already, and the inter. And this is. Its taking place. Obama you know, steve, ive got to tell you, the. You guys in the press are incorrigible. I was literally. laughs . Inaugurated four days ago, and youre talking about elections four years from now. Clinton yeah, and i am. As you know, steve, i am still secretary of state, so im out of politics. And im forbidden from even hearing these questions. I think that. You know, look, obviously, the president and i care deeply about whats going to happen for our country in the future, and i dont think, you know, either he or i can make predictions about whats going to happen tomorrow or. Or the next year. What weve tried to do over the last four years is get up every day, have a cleareyed view of whats going on in the world. And im really proud of where we are. Kroft when we come back, the president and secretary clinton discuss the disaster in benghazi and the state of her health. Cbs money watch update sponsored by glor good evening. The dow and the s p begin the week at their highest levels in five years. The senate this week is expected to approve an increase in the nations borrowing limit. 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Look for the heart check on many tempting subway fresh fit meals. Subway. Eat fresh. Kroft Hillary Clintons final days as secretary of state included one of her most difficult. On wednesday, she spent more than five hours being grilled on capital hill for the security failures in benghazi that led to the deaths of u. S. Ambassador Chris Stevens and three other americans, the biggest diplomatic disaster of this administration. The accountability review led by admiral mike mullen and ambassador Thomas Pickering found, among many failures, that stevens repeated requests for better security never made it to clintons desk. And representatives and senators pressed her on whether the administration covered up the nature of the terrorist attack. Clinton the fact is, we have four dead americans. Was it because of a protest, or was it because of guys going out for a walk and deciding theyll go kill some americans . What difference. At this point, what difference does it make . It is our job to figure out what happened and do everything we can to prevent it from happening again, senator. Kroft i want to talk about the hearings this week. You had. You had a very long day. Also, how is your health . Clinton oh, its great. Its great. Now, you know, i still have some lingering effects from falling on my head and having the blood clot. But, you know, the doctors tell me that that will all recede. And so, thankfully, im, you know, looking forward to being at full speed. Kroft right. I noticed your glasses are. Clinton yeah, i have some lingering effects from the concussion that are decreasing and. And will disappear. But i have a lot of sympathy now when i pick up the paper and read about an athlete or one of our soldiers whos had traumatic brain injury. Id never had anything like that in my family. And so, you know, im. Im very conscious of how lucky i was. Kroft you said during the hearings. I mean, youve accepted responsibility. Youve accepted the very critical findings of admiral mullen and ambassador pickering. As the New York Times put it, you accepted responsibility but not blame. Do you feel guilty in any way, at a personal level . Do you. Do you blame yourself that you didnt know or that you should have known . Clinton well, steve, obviously, i deeply regret what happened, as ive said many times. I knew Chris Stevens. I sent him there originally. It was a great personal loss, to lose him and three other brave americans. But i also have looked back and tried to figure out what we could do so that nobody insofar is possible would be in this position again. And as the accountability review bo