• With: Sarah Palin, Fox News contributor

    This is a rush transcript from "Hannity," April 19, 2011. This copy may not be in its final form and may be updated.

    SEAN HANNITY, HOST: The names Trump and Palin have been the two most talked about people in politics in recent weeks. The duo pulled no punches in separate Tea Party speeches over the weekend, as they harshly criticized the President Barack Obama's handling of both foreign and domestic issues alike.

    And in a moment I will be joined live by Governor Sarah Palin. But first, earlier today, Donald Trump appeared on "Good Morning America" and once again, raised questions about President Obama's birth certificate.

    Let's take a look.

    (BEGIN VIDEO CLI FROM "GOOD MORNING AMERICA")

    DONALD TRUMP, ENTREPRENEUR: There's a real question about the birth certificate. There's a real question about the -- his own citizenship.

    GEORGE STEPHANOPOULOS, HOST: There is -- there is no question. He's got a certificate of live birth that is recognized by the State Department.

    TRUMP: George, George, I know exactly what you're getting at.

    STEPHANOPOULOS: The facts!

    TRUMP: But for some reason -- no, they're not the facts. He doesn't have a birth certificate or he hasn't provided. He's given a certificate of live birth. It's a much different instrument.

    STEPHANOPOULOS: A certificate of live birth meets the standard in the State Department for anyone's citizenship.

    TRUMP: George--

    STEPHANOPOULOS: There were contemporaneous reports in two Hawaiian newspapers.

    TRUMP: George, they have co-opted you.

    STEPHANOPOULOS: Given the --- no, those are the facts sir.

    TRUMP: George, they've co-opted you.

    STEPHANOPOULOS: Who's they?

    TRUMP: It's not- --obviously, Obama and his minions.

    (END VIDEO CLIP)

    HANNITY: Now, Mr. Trump also appeared on the "Today Show" this morning and had some kind words about my next guest. Let's take a look.

    (BEGIN VIDEO CLIP FROM "TODAY")

    TRUMP: I really respect her a lot. She's got a tremendous energy and a tremendous following. I think that she has been very unfairly treated.

    (END VIDEO CLIP)

    HANNITY: All right. So, could a Palin-Trump and alliance be forming? Here to answer that question and much more, Fox News contributor, former Alaska Governor Sarah Palin. Governor, out there in the warm weather, thanks for being with us.

    SARAH PALIN, FORMER ALASKA GOVERNOR, FOX NEWS CONTRIBUTOR: Oh, thank you. And Happy Easter week, Sean.

    HANNITY: And Happy Easter week to you.

    Well, first of all, I think his characterization was 100 percent rate when he said he respects you a lot. You have tremendous energy, a great following and you've been unfairly treated. You guys are sort of, you've been going back and forth, you had some kind words to say about him and the legitimacy of this question that he's raising. What do you think about the issue in general?

    PALIN: Well, first, I do have respect for Donald Trump and for his candidness. I think people are craving that today in the world of political speak that were coming out of the White House. And the confusing messages that come from so many of our politicos, we appreciate that Donald Trump is so candid.

    Donald Trump is the one being really treated unfairly, I would say though in the press. When they are hammering him about the one issue that he has brought up and not been shy about, and that's the birth certificate. He's merely answering reporters' questions about his view on the birth certificate. And then reporters turn that around and saying, that's all he's got. He's always running on a birth certificate issue, when that's not the case. Donald Trump is running on the issue, bottom line, that President Obama is so far over his head. He has gotten us on the road to bankruptcy and insolvency and a less secure nation. And Trump and so many of us want to do something about that.

    HANNITY: Yes. I watched the interview, and it was interesting to me because Donald Trump kept saying, I don't want to talk about this, I'm dealing with China, I'm dealing with trade imbalances, oil dependency issues and all of this. And you keep asking me about it. And it was interesting to watch Stephanopoulos interrupt him no fewer than seven times. And in all the time that Barack Obama ran for president, he was asked one question about Bill Ayers. Gave speeches with him, sat onboard with him, started a campaign in his house.

    You've experienced this double standard. You think it is going to continue through 2012?

    PALIN: Well, it certainly will continue if candidates allow it to continue. Candidates need to remember that they have control over the message. Especially thank God, in this day and age of the social media and fair and balanced reporters who are out there wanting to just inform the public. You can talk to them. And you don't have to give the time of day to those who are so obviously biased.

    Yes, I was thinking back to on some of those interviews that Obama had given back when he was a candidate. The inconsistencies that he spewed back then, and reporters didn't follow up. Remember, he told Charlie Gibson back in '08 that he would increase capital gains taxes even if it didn't results in more revenue coming into the Feds, just in order to be more fair to taxpayers.

    An issue like that, that is so relevant today as we see Obama and now starting to flirt with this idea of increasing taxes on everybody, should have been followed up back then as a candidate. Certainly now, he as our president, he needs to be asked these tough questions.

    HANNITY: I watched your speech over the weekend. And then I re-read the transcript. And I thought this was one of the most hard-hitting speeches you gave, more than anything else, against the Republicans. And you went through their promise when they were running in 2010 was, hey, elect us, $100 billions we are going to cut. That got prorated to 61. The deal came out to 38, they said, 38.5 then it was 28.5. And then, you rightly pointed out in the end, we are told according to those that actually, you know, fact checked it, it was only $345 billion, not even a trillion -- I'm sorry $352 million, not a billion.

    PALIN: Three fifty two, right.

    HANNITY: Yes. So, the question is, and then you went on to say, that that's not courage, that's capitulation. And you said, we didn't elect you just to rearrange the deck chairs on a sinking titanic. Pretty strong words for a fellow Republicans.

    PALIN: Right, and I say, with all due respect to those Republicans, who, they got elected with them that promise set they would rein in government growth on the over reach and the over borrowing and the over spending that President Obama has so embraced. We can't just -- we can't afford to have any of the GOP in there, or the Blue Dogs Democrats, the Reagan Democrats, be a part of Obama's very radical agenda which as I say is putting us on the road to bankruptcy. We are flat broke. It makes absolutely no sense to capitulate, and say OK, we'll throw in cowboy poetry and pretty monuments and more museums and maybe some road projects that we don't need.

    Certainly some services provided by the Feds that maybe states could be providing. And so many things that are thrown into this budget. And yet, we feel that we need to what, strike a deal with the losing party? The party just lost in 2010.