[Joie Chen, Cnn Anchor:] We want to bring you the latest information we're getting from Washington. Today is the first meeting of the Homeland Security Council, just a short time ago. We are receiving pictures this afternoon from Washington of the events the Homeland Security Council. President Bush, of course, chairing this important meeting. And there were some comments made there. John King, our senior White House correspondent, is standing by. John, before we actually see this tape which, I understand, is coming down in just a minute, here, can you explain to us what the mission of this particular meeting was? There are a lot of folks involved who are actually cabinet members. Isn't this part of sort of their regular sort of briefing on all this?
[John King, Cnn White House Correspondent:] Well, this is the first formal meeting of the Homeland Security Council, which is the domestic counterpart, of you will, of the National Security Council. There you have the secretary of state, the defense secretary and the generals meet, to brief the president on national security matters. This is a group that does include the defense secretary, but also the secretary of health and human services, the new homeland security director, Tom Ridge. It can, at times, involve transportation and public health officials as well. The president's mission today was to bring them together for their first formal meeting, and to announce the formation of a new foreign terrorist tracking task force. That, an effort to find out just how easy it is for people who are suspected terrorists to get into the United States, and propose any changes in immigration and other laws. I believe now we can listen in to the president, meeting with that team in the Cabinet Room.
[George W. Bush, President Of The United States:] Today I have the first official meeting of the Homeland Security Council, that has been chaired by when I'm not here, by Governor Ridge. And as you can see, I've assembled many of the members of my administration here senior members of the administration, because our task is to do everything we can to protect the American people from any threat whatsoever. The American people are beginning to understand that we fight a two-front war against terror. We fight in Afghanistan, and I appreciate so very much the efforts or our men and women who wear the uniform. And we fight at home here to make sure America's as safe as possible. Along these lines, we've set up a foreign terrorist tracking task force to make sure that the land of the free is as safe as possible from people who might come to our country to hurt people. We welcome legal immigrants. We welcome people coming to America. We welcome the process that encourages people to come to our country to visit, to study or to work. What we don't welcome are people who come to hurt the American people, and so therefore, we're going to be very diligent with our visas and observant with the behavior of people who come to this country. As an example, if a person applies for a student visa and gets that visa, we want to make sure that person actually goes to school, in other words, that they're using the visas for the intended person. The American people need to know that we are doing everything we possibly can to prevent and disrupt any attack on America and that we're doing everything we can to respond if there are to attacks. And I'm proud of the public health workers, the people that report to Tommy Thompson's agency, about their hard work. They're working hours on hours. And I believe that lives have been saved as a result of their diligent efforts. Be glad to answer a couple of questions.
[Question:] Yesterday, there's been quite a bit of talk on Capitol Hill about the need for ground troops, to step up the military action another notch Senator McCain and Senator Dodd, among others. Do you think the American public is ready for a significant number of ground troops in Afghanistan?
[Bush:] I think the most important thing that the American people realize is that we're steady and determined and patient; that we have got a strategy in place to bring Al Qaeda to justice; and at the same time make it clear that any nation which harbors terrorists will be held accountable for their decisions. And we are implementing our strategy. And we appreciate any suggestions people may have, but the strategy we have at the time right now is to use our military to dismantle Taliban defenses; use our military to destroy Al Qaeda training bases; and to work with troops that now exist on the ground to fulfill our mission. And I am pleased with the progress we're making. And I'm really pleased with the fact that the American people are patient. They realize this is a war the likes of which they have never seen before, and therefore they are rooting on their government and the men and women who wear the uniform. They understand that it's going to take a while to achieve our objective, and I appreciate that patience.
[Question:] Sir, since so many of the hijackers were in the country illegally, do you plan to crack down on student visas or political asylum cases things of that sort?
[Bush:] Well, we plan on making sure that if a person has applied for a student visa will actually go to college or university. And therefore we're going to start asking a lot of questions that heretofore have not been asked. We're going to tighten up the visa policy. That's not to say we're not going to let people come into our country. Of course we are. But we're going to make sure that when somebody comes, we understand their intended purpose and that they fulfill the purpose on their application. You bring up a very good point, and that is that sometimes people come here with no intention to fulfill their purpose. And when we find those, they will be escorted out of the United States.
[Question:] Mr. President, a couple of weeks ago, the FBI issued an alert indicating over the next several days the country could be attacked by terrorists again. Does the government still believe and have information to support the notion that Osama bin Laden is planning a second wave of attacks? And do you believe that all the resources now dedicated to the anthrax situation reduce the country's level of preparedness?
[Bush:] We believe that the country must stay on the alert; that our enemies still hate us. Our enemies have no values that regard life as precious. They are active. And therefore, we're constantly in touch with our law enforcement officials to be prepared. Having said that, the American people must go about their lives, and I recognize it's a fine balance. But the American people also understand that the object of any terrorist activity is to cause Americans to abandon their lifestyles, and every American is a soldier and every citizen is in this fight. And I am proud of our country. Our country is united and strong, and we are prepared. We've got ample resources to fight the war on the home front on many fronts. And part of our purpose for being here is to make sure that those resources are well organized and that fit into a strategy that this administration is designing.
[Question:] Mr. President, [OFF-MIKE] some new consumer confidence numbers coming up tomorrow, so perhaps this would be a better question to ask then, but [OFF-MIKE] what is your sense of the extent to which the terrorist attacks and now the anthrax [OFF-MIKE] are having on consumer confidence? Is it your sense that people really are hunkering down [OFF-MIKE] Are they finding it difficult to get back to [Off-mike]
[Bush:] Well, I haven't seen the numbers, but my view of the mood of the country is that the country understands we've entered into a new period in our history, and that lives are simply not going to be as normal as they were in the past. And that so long as there is terrorist activities in the world directed toward our country, that people are going to have to be diligent and on guard. And they are. Having said that, the American people are very patient and they appreciate the efforts of the government and they appreciate the efforts of our military. They understand better than most, better than the world, that this is going to take a long period of time and they are prepared for this. They are prepared to wait in long lines at airports. They're prepared to support our military. They are prepared to support local law enforcement as the local law enforcement works hard with federal officials to disrupt any potential terrorist activities. And so the mood of the country is certainly different from what it was on September 10, but I find the mood of the country to be incredibly refreshing and strong and powerful. It is a clear statement to anybody who would want to harm us that instead of weakening America, they have strengthened America. And what that means for the economy, it means that over time our economy is going to be just as strong as the American spirit.
[Bush:] And so I'm very optimistic about the economy. How long it will take to recover to the levels that we hope is beyond my pay grade, but I can tell you that the people of this country are strong and resolute, and for that I am grateful and incredibly proud. Next question.
[Question:] Mr. President, we understand this task force is to help tighten and close the loopholes in immigration laws. Why were these loopholes so vast and why were they left for so long? Also, what can you say to the American public who is concerned about anti- American sentiment among Americans who may have helped these immigrants who came in and [OFF-MIKE] September 11?
[Bush:] Well first, our country has been an incredibly generous country the most generous country in the world. We're generous with our universities. We're generous with our job opportunities. We're generous with what a beautiful system it is that if you come here and you work hard, you can achieve your dream. And never did we realize that people would take advantage of our generosity to the extent they have. September 11 taught us an interesting lesson, that while by far the vast majority of people who have come to America are really good, decent people, people who we're proud to have here, there are some who are evil. And our job now is to find the evil ones and to bring them to justice, and to disrupt anybody who might have designs on further hurting Americans. The second part of your question?
[Question:] The second part is about the Americans in this country who some may have helped [Off-mike]
[Bush:] Well, I think Americans who unwittingly helped people that hurt Americans regret that now. Americans who are willingly participants in plans to hurt America, they will be brought to justice. My judgment is anybody who is a terrorist or helps a terrorist are equally culpable. And so we are doing everything we can, obviously within the law. And we've got now a new law that will help us pursue those who would harm Americans and those who would help them harm Americans. People need to be held accountable in America and we're going to do just that. Thank you all.
[King:] The president, meeting a short time ago, the first formal meeting of his new Homeland Security Council, discussing steps the government is taking to fight the war on terrorism here at home. Discussing a new assessment that will be under way to reform the visa process and immigration laws, in any way the task force the president named today deems it necessary, to try to limit or restrict access to the United States by those suspected of being affiliated with terrorist groups, or to remove from the United States anyone who comes here. The president cited the example of a student visa, and then does not enroll in a college or university. The president also talking about what he called a new period in our history. Things will not be as normal as they were in the past, but he said he was confident the American people had the patience to wait longer in lines, say, at airports and places like that, to support law enforcement efforts under way. The president refusing to discuss the military strategy in any specific way. He was asked if more ground troops were part of the operation in the near future. He declined to answer, simply saying he was pleased with the progress so far. That there was a steady, determined and patient strategy in place. The president, on several occasions, saying he believed he had the support and the patience of the American people, as that strategy unfolds Joie.
[Chen:] Our senior White House correspondent John King for us this afternoon. Of course, CNN will continue to follow up on the latest developments on America striking back and the homeland security issue. We'll bring you the latest updates here. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com