It looks to me to read,
"We pray for the victims __
th____ k____ d____
and we stand firmly
with the people of India (as?)
s__ (she?) o_____ (overcomes?).
I got my letter from President Bush and compared the handwriting, how he makes certain letters, etc., plus having what you gave as a start, it looks like he says:
We pray for the victims of
this horrible disaster
and we stand firmly
with the people of India "as she overcomes" OR "on this occasion".
Not sure about those last three words. Looking at how he makes a capital T, it looks like the next to last word might be "this" and if you decide that's the correct word, then the last word actually looks like "occasion". :)