Katie Couric's Notebook: Bush's Legacy

Today, President Bush held his final news conference. He was more introspective than usual, more forthcoming about the extraordinary events of the past eight years.

He admitted to some regrets, saying his tough Texas talk might have been too much at times. Standing in front of a "Mission Accomplished" banner in May of 2003, he says, was clearly a mistake. More than five years later we are still at war.

But perhaps the most stinging moment came when a reporter asked if President Bush's time in office had damaged America's moral standing in the world. President Bush feels strongly that it hasn't.

On January 21, he'll once again be George W. Bush, private citizen. The challenges and opportunities that come with the presidency will belong to another man.

May President-elect Obama heed the history lesson President Bush presented today when he said, "in this job, there are no do-overs.