WATCH: Presidents Bill Clinton and George W. Bush: An Unlikely Comedy Duo

Former U.S. presidents Clinton and Bush keep the crowd rolling as they announce their new joint Presidential Leadership Scholarship program.

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ABC News Transcript:

Why did you decide to do this -- collaboration. And why did you pick leadership -- President Bush because. He's sticking to short right.

Problem. Simply reluctant. About.

Going to restaurants and heavens and our town taken -- -- -- -- -- -- Yeah that's right can't -- But it's -- like -- victory -- take your -- now they want to have second your hand and have a record of it. I'm barber mostly one thing. Nice about.

My friend here. I'll say more than one thing but this particular what's going on tonight. President Bush there was no presidential.

Leadership scholars program you were growing up -- to us. HW bush okay. That's exactly where I was don't know.

Got your question to. It's. So my next question is.

President Clinton. -- -- Is there anything you wish somebody had taught you about leadership before you became a leader. Actually at target -- from.

Promote my book. But affect his book I'm writing. -- marketing now.

Which I think will be on November the eleventh. And handed Mr. President you you clearly absorbed a lot of lessons 41.

I'm assuming those will be laid out. In your book available November 11. Sixteen dollars and eighty cents.

I'm not that not for. The I learned a lot throw him out like everybody else. And it's hard to make good decisions in complex environments.

It's. There's only one. The only -- that it -- only two people -- governor both related to me I hope.

I'm not be -- total -- about become a premature Graham Fuller picture. -- -- That make national news -- -- bottlenecks the presidential scholarship program -- Cartilage so I've been admonished and asking these questions that -- -- Anchorage based news. Here we are the museum.

Tell that requires leadership -- toward -- budget that's. It does and I'm gonna try to exercise it but if if either -- -- has any political announcements. Endorsements or predictions you would like to make now would be a really fun time.

Like the time to get the -- member of the woman and and I think in Canada has just about. -- very dramatically said what about another. Clinton bush match up and my answer was the first one didn't turn out to -- -- -- -- -- -- -- -- -- -- In -- Sunday morning talk show -- I was act like spoiled brat.

An appropriate it's a bustling Barack told him on the phone management he's an Obama got to be told to me. City of -- -- for what you think. He said what do you -- busted you work hard last week bunea.

And you agree because somebody suggests that you do to do until Sunday morning talk shows. And you walk you woke up because it with a Hannity he remanded -- ago -- -- -- when you got here and you took -- -- Music that's exactly what happened how did you know that. -- don't don't do this because.

It made -- better friends securities. I care about what are we go to work and actually week. Clinton public again I ask you want.

Even values you haven't written a book. -- out on November 11. About 410 I think -- -- got to be ready to.

For the Christmas season -- -- -- Let me let me ask you need to talk about each other for. What what beautiful. Beautiful.

That you always will be under estimated by your adversaries. He consistently benefited by being underestimated. And so -- god.

We're totally different reasons. One other. Thing we're hopefully teach people but its case studies is that at some point to have a leader s.

's -- -- And you get and she told you more you want Italy and way people could understand. -- -- It's and then make decisions and and -- -- -- them and so. Is that enough.

There's a lot shorter that your answer no. So President Bush -- accommodate them and -- past the last question. -- -- and ask you what advice do you have for President Clinton.

On the leadership qualities necessary to. Good Korean. Be prepared.

To -- completely in love again. But -- I don't believe it. -- -- -- -- -- -- And the fun and am looking forward to talking to you after.

After the child is born and we all. The very best for Chelsea. And it the child -- me strong like him confident it will be any left -- spirits -- And don't get -- also going to be

Presidents Bill Clinton and George W. Bush
Screen grab from ABC News