Wish we had the video, it was priceless, but here's the transcript:

WOLF BLITZER, CNN ANCHOR: So far, more than 29 million Democrats
have voted in the 2008 primary election. That's already almost double
the voter turnout from the 2004 primaries, and there's still more
contests left. Even in Florida where Democratic voters knew their votes
probably wouldn't count, more than twice as many people cast ballots on
primary day, 1.7 million voted this year compared to 750,000 back in 2004.

Let's get some more now on a possible do-over for the Florida and
Michigan primaries. We're joined by two top Democratic strategists, CNN
contributor James Carville, who supports Hillary Clinton, and David
Wilhelm, a former Clinton campaign manager who now supports Barack Obama.

...

James Carville, I know you love Hillary Clinton. There's no doubt
about that. You've worked with her. David Wilhelm once worked with the
Clintons, but he now supports Barack Obama. I want to get back to this
do-over in Michigan and Florida. You heard John Zarrella's piece where
he's laying out some obstacles that may not be overcome. Can the
Democrats get their act together in these two states and redo the
elections there?

JAMES CARVILLE, CNN CONTRIBUTOR: Well, of course they can. I heard
a guy say we don't have voting machines. Well, how did Abraham Lincoln
get elected president? How did they do that? You can have paper
ballots. You can count them.

And by the way, in terms of the funding, I've talked to any number
of Democratic funders today, they're ready to put up serious money.
Senator Obama raised $55 million this past month. Senator Clinton
raised the money. Let's let these candidates get a little skin in this
game. Let's go around, raise some money, and let's show the world we
can do this.

You know, we're telling people all over the world to have
elections. And the United States of America is saying, well, we can't
afford to have an election in Florida and Michigan in the most exciting,
highly contested and important presidential election probably in the
history of this country.

We look ridiculous. I mean, let's just get together and have the
DNC put some money up. Have Senator Obama put some money up, Senator
Clinton's people put some money up and let's go out and raise the
money. We can do this easy, pass some paper ballots and count them.

BLITZER: You ready to accept that offer, David?

DAVID WILHELM, FORMER CLINTON CAMPAIGN MGR.: Well, I hope we can
figure this thing out. What I -- I'm glad about is that I think -- it
sounds to me like Senator Clinton's campaign is finally getting off this
notion that the illegal election, or the election that was run in
contravention of party rules should not stand, and that is a very good
thing. The posture of the Barack Obama campaign is tell us what the
rules are. We'll play by the rules and ...

CARVILLE: We'll raise it (ph). We'll raise -- we'll put up $15
million. I'll guarantee $15 million and have the Obama people put up
$15 million. And let's go to the polls come on June 7th. I've got
fundraisers that are lined up ready to go. I think the Democratic party
is going to look absolutely absurd if they don't have primaries and let
these people in Florida and Michigan vote. Again, I tell you what,
they're going to take (INAUDIBLE) to the general election if we don't do
it.

WILHELM: Well, this -- you know, ultimately, I don't think this is
up to the campaigns. I think this is ...

CARVILLE: Sure it is.

WILHELM: ...up to Chairman Dean -- the campaigns are part of the
discussion, but it's up to the people of Michigan, the state party of
Michigan, the National Party, the state party of Florida, and I'm sure
we can all ...

CARVILLE: No, David, David, this is ...

WILHELM: ...(INAUDIBLE) let's go, we -- all we want to do is know
what the rules are, play by the rules.

CARVILLE: No, the rules are these campaigns we can put on a
primary. I just love Florida. Every person that I talk to in Florida
wants to participate in this process. It's been racked by the subprime
crisis and foreclosures. Look at Michigan. We're going to say (ph) we
got rules here and we're going to have some kind of cockamamie (ph)
thing, or we can go and have a primary and let these people weigh in.
This is the United States of America. Let people vote.

WILHELM: We have nothing to fear from a primary if that comes to
it. Let's talk have the debate, let's talk about the economic issues
that matter.

CARVILLE: Good, right, I agree.

WILHELM: I'm in total agreement.

CARVILLE: I'll pledge $15 million.

WILHELM: I am praying and hopeful that we can figure out a way to
get this to happen.

CARVILLE: It's easy, it's easy. Print some ballots, let's raise
some money and let's get going and tell this guy in Florida, I don't
have any voting machines, then get some people in and count. Say here's
one ballot here, one ballot there and count them. That's the way they
used to do it. We can do that.

BLITZER: So, basically, what the challenge is $15 million -- he
says the Clinton campaign and their supporters can raise -- David, you
think the Obama campaign can raise $15 million? You got $30 million.
That's more than enough to handle new primaries in both Michigan and
Florida.

WILHELM: I'm not here today -- I'm sitting here in Columbus, Ohio.
I think that this is something that can get worked out, that will get
worked out. I think the state party and the National Party need to come
together. I'd be a little suspicious of the various attitudes of the
campaigns on this. This needs to be done in a judicious, mindful way
that is fair for all parties ...

BLITZER: But you know, but David, let me interrupt -- David, let me
interrupt because Howard Dean says he's ready to oversee a new primary
in both states. He just doesn't want to pay for it. The governors of
Florida and Michigan say they're ready to see new primaries, but they
don't want the taxpayers in those two states to pay for it. So, James
has just come up with a proposal whereby individual supporters of your
campaign, supporters of Hillary Clinton's campaign say, you know what,
we'll come up with the money and we can organize this.

WILHELM: Well, I guess that would be one of the options on the
table that needs to be worked out in conjunction with the national party
and the state parties. I -- I don't think the right place to hammer
this out is on your show here today. But I think it's one of the options.

No one has -- I -- the attitude of our campaign from day one has
been to play by the rules, whatever the rules are. The last I heard
from Senator Clinton's campaign was that they were insisting on the
seating of the delegation that was not elected several months ago.

CARVILLE: No, David. Listen to what I'm saying.

WILHELM: So what are we talking about here?

CARVILLE: Listen to what I'm saying.

WILHELM: And -

CARVILLE: I -- Wolf, can I -- is it all right if I say -- Very
simple thing. I have talked to people today that are ready to go. We
put up $15 million, Senator Obama puts up $15 million. We go to post
and we let Democratic voters in Florida and Michigan decide this thing.

We don't need a backroom negotiation. We need sunshine. We need to
somehow the world that the Democratic Party is ready to go. And we can
do this. In a country this rich, you're going to tell me that we're
going to exclude people from Florida and Michigan from participating in
this most important election in history?

WILHELM: I want every state to be a participant in this process and
to let the process play out. And we are more than happy, I am sure as a
campaign, to sit down with the people of -- and the Democratic
leadership of both states and the national party and help try to figure
this thing out.

CARVILLE: But -

(CROSSTALK)

WILHELM: I'm thrilled -- I am thrilled if today we're finally
getting off this notion that has been pressed by Senator Clinton's
campaign that we would try to -- that they would try to seat the
delegation that was elected contrary to the rules of the party -

CARVILLE: David, David, listen. I've talked to -

WILHELM: -- and where no one campaigned. So -

CARVILLE: I have talked to some of the biggest fundraisers that we
have. They are ready to go. They don't want -- they don't want people
in Florida who are being hit left and right by policies of
administration, their mortgages are being foreclosed.

People in Michigan have been dismayed (ph). We don't want to deny
these people the right to vote or participate. You have $55 million,
give me $15 million, get some skin in this game and let's go to post and
have a debate and talk about it.

WILHELM: Every -- fine. Every step of the way that has been what
Senator Obama's campaign has tried to do.

CARVILLE: Well then we've got your $15 million.

WILHELM: Let's figure it out. We're not going to figure it out on
the show today. That sounds like a reasonable position. Let's go.
Let's work with the leadership of the state. Let's work with the
leadership of the national party and God willing we will find a solution
that makes sense and can allow these votes to count in a fair way.

BLITZER: David -- David on that very upbeat note, because I think
you guys are getting close to an agreement here on a way out of, what
seemed to a lot of people, intractable -- you guys look like you're
getting close to an arrangement.

The people of the -- the Democrats at least in Michigan and Florida,
get ready in June, after Puerto Rico, for elections. It looks like
you're getting close to a deal.

CARVILLE: But Wolf, CNN makes enough money on these election
nights. Maybe we can get CNN -

BLITZER: In the scheme of things $30 million is not necessarily a
whole lot of money to make sure that millions of Democrats -

CARVILLE: That's right.

BLITZER: -- in Florida and Michigan have a say at their convention
in Denver.

Guys, continue to your discussions. Discuss amongst yourselves and
get back to us with the deal, and we'll report it. Thanks very much for
that.

CARVILLE: All right.

WILHELM: Thank you.

BLITZER: James Carville and David, Wilhelm. A good, good discussion.

Lot's of fun...

If anyone can find the CNN interview with Blitzer please post the link and I'll add it as an update.

Here is Carville a little earlier discussing the revote:

http://www.youtube.com/watch?v=rPax6aHXB cg

Bottom line. Clinton campaign is ready for a revote and Obama is stalling, trying to wait out the clock and disenfrnchise two critical states.