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This is a rush transcript from "On the Record," April 4, 2012. This copy may not be in its final form and may be updated.
GRETA VAN SUSTEREN, FOX NEWS HOST: Donald Trump accusing President Obama of engaging in first grade stuff. Trump is blasting President Obama for insulting the Supreme Court and questioning the court's power to overturn his healthcare law. We spoke with Donald Trump earlier tonight.
VAN SUSTEREN: Donald, nice to talk to you.
DONALD TRUMP, CEO, TRUMP ORGANIZATION: Hello, Greta.
VAN SUSTEREN: Donald, do you have any thoughts about President Obama's remarks in the last couple days about the Supreme Court and its consideration of the health care law, whether it's constitutional or not, specifically the mandate?
TRUMP: Well, I think he paid great disrespect to the Supreme Court. The Supreme Court is the Supreme Court for a reason. And it almost is as though he didn't care what they said and they shouldn't be making the decision, and this decision is above them, and they don't exist. And I would think it would be very insulting to go to the Supreme Court with what he said.
VAN SUSTEREN: It may be insulting, but there is sort of the curious aspect. The Supreme Court, which, frankly, I don't think is the least bit intimidated by the president. They have a lifetime appointment. The president doesn't. His job is up for reconsideration in November. I don't think they are intimidated.
But I did think even the "Washington Post" and the others thought it was distressing that he was perhaps suggest to go the Supreme Court, trying to scare them to vote other different way, intimidate them, or maybe he didn't know they do have the authority to determine whether a statute is constitutional or not. Maybe he didn't know.
TRUMP: I don't know if he knew or not, but everybody told me he studies constitutional law and you think he would know about this at the highest level. And, frankly, you really start to wonder, don't you? It's really very sad. And I think no matter how you look at it, it's very, very disrespectful to the Supreme Court. These are brilliant people. I know some of them. And I just can't imagine they are going to like at all what happened.
And it's very interesting, the judge' decision yesterday where he wants a three page memo as to what's going on, because it actually sounded like the president didn't understand the way our president of country is supposed to be working. And a lot of people are saying that. In fact, you sort of implied it last night on your show. But the way he discussed the Supreme Court, it was almost as though he didn't understand what was happening.
VAN SUSTEREN: It's sort of interesting, because I actually think the court of that they got under our skin he made the warning before and the justice said right in court before them that Marbury versus Madison is the authority, and of course they have the power to exercise whether or not a statute is constitutional or not. They make that decision. I thought that the court was going a little bit beyond, trying to poke a stick in the president's eye because of the things he said the day before. I don't think it advance it in any way but created more trouble.
TRUMP: That may be right, but I think the justice was very insulted by what took place and I think he was shocked by it actually and I could understand what he was saying and what he was doing. But I think he was very insulted.
VAN SUSTEREN: But the interesting thing, too, today the attorney general of the United States, he came out and he said, of course, the court does have the power to consider whether or not a statute is constitutional or not, so he was essentially saying that, maybe the president doesn't know it, but I'm telling you what the law is, that's what the law its. But then he said what the president said the day before was appropriate. I mean, I'm sort of curious. He's trying to have it both ways, trying not to run up against his boss but trying to say that his boss was wrong.
TRUMP: Well, I watched yesterday as the president tried to clarify what he said, but he didn't clarify it because it made no sense whatsoever. If you listened to what he said and the clarification, the clarification made no sense. It had nothing to do with what he said. So there's a mixup somehow, somebody doesn't know what is going on. But it's very sad and disrespectful even to the country but certainly to the court.
VAN SUSTEREN: The president said he believes the statute is constitutional, the mandate is constitutional, yet in spite that he seems to be trying to give the Supreme Court a hard time. And I don't have any doubt the Supreme Court is immune from the pressure from outside. But if he is so concerned it's constitutional, why is he pushing up against it so much and making those statements?
TRUMP: Well, I can say this, if it passes, if for some reason the justices, who are in many cases the ones I know, that I have great respect for, if for some reason they allow it to pass, this country is in serious trouble. They will be doing a tremendous service to the country if they strike it down because we can't afford it, and it's not good health care.
Look, I want to see good health care for people. Number one it's not good healthcare, and number two, it is unaffordable by this country. It will put this country as such a disadvantage. If it is stricken by the Supreme Court, they will have done a great service to this country.
VAN SUSTEREN: But the problem is, Donald, their job isn't to sort of make the far reaching decision whether it's good for the country or not.
TRUMP: That's true.
VAN SUSTEREN: They are just supposed to look to see if it's constitutional.
TRUMP: That's true.
VAN SUSTEREN: Whether it's good for the country, that's for the president and the Congress and voters come November.
TRUMP: That will be a side effect. But Greta, that will be a side effect. I agree. They aren't suppose today do it on that basis. They will see whether or not it is right and proper. But one of the big side effects, I mean one of the truly great side effects will be the fact is it will also be great for the country if they strike it down.
VAN SUSTEREN: You know, I'm sort of curious why the president sort of started this war of words. And of course we've all seized upon it. I think he knew that the Supreme Court has the power. I think he made a deliberate calculation that this was something good to say and now he can't perhaps get himself out of it by what he said. What's your theory about why he has sort of picked this fight?
TRUMP: Well, I really have no theory. I was amaze when I heard the statement. It's almost like first grade stuff, and I was just absolutely shocked when I heard him make a statement that was against everything the country stands for. But more importantly, even intellectually how could he make a statement so ridiculous? And I have no explanation for it. Some people would say it's not smart. Some people would say evil. I mean, there are lots of different reasons it could be. But I certainly would have no explanation.
What he said was basic. It was as basic as one and one is two -- and how he could have said it. And he said it so strongly. And then the next day he tried to back up and clarify what he said. But he wasn't clarifying. He wasn't even addressing what he said. It was obvious what he said, and then he clarified something that he didn't say. So nobody really knows and perhaps he doesn't know either.
VAN SUSTEREN: Let me just switch gears a little bit. Everyone knows your success in television, so let me turn to you on this particular question. There was sort after duel yesterday on the morning show, Katie Couric on "Good Morning America" and former governor Sarah Palin on "The Today Show." I'm curious what you thought. What do you think of that little duel?
TRUMP: I know them both and I think they are both terrific women. I think Sarah, who doesn't do this for a living, in all fairness, I thought she was fantastic. I watched her. And Katie has done a great job. This is really good in terms of Katie because she's great at what she does. I know them both so I'm a little prejudice for both, frankly, but I thought they really both did a great job. I think Sarah was fantastic. I watched Katie, and I watched them both and I thought they both did a fantastic job.
VAN SUSTEREN: Let me go to a tighten and television --
TRUMP: I think they were both winners, in other words.
VAN SUSTEREN: OK, good, both winners. It's always good to have everybody win. One last question about Oprah Winfrey, who had enormous success in the TV business, but her network has been struggling. Do you have any advice or thoughts about why that network has been struggling?
TRUMP: She just has to keep plugging. Oprah is a tremendous woman and she's a friend of mine. And I was on one of her last few shows. She did her final wrap-up week. It was a great honor because she honored me and my kids and my family and everything else. I just think Oprah is a tremendous woman.
And she didn't really need this. I don't really know why she did it. Maybe she wished she didn't, because, you know, it's tough with success. If you are successful like Oprah and you have just a little bit of a misstep, the press goes after you like it is unreal. So I think Oprah is going to do -- she's a winner and she will do absolutely fine. Some people will say she won't stay with it, she will stay it. I think she'll probably stay with it and probably make it successful. But this is just a blip and they are making it such a big deal, she will do just fine. She's a really wonderful person.
VAN SUSTEREN: Donald, thank you. Nice to talk to you.
TRUMP: Thank you very much, Greta.