• This is a rush transcript from "On the Record," April 8, 2013. This copy may not be in its final form and may be updated.


    GEORGE H.W. BUSH, PRESIDENT OF THE UNITED STATES: Prime Minister, there will always be an England, but there can never be another Margaret Thatcher.

    UNIDENTIFIED MALE: I think people forget now what a ground-breaking figure she was, not just for women, though certainly for them, but as the first female prime minister.

    RONALD REAGAN, PRESIDENT OF THE UNITED STATES: Margaret ended our first meeting by telling me, We must stand together. And that's exactly what we've done.

    MARGARET THATCHER, BRITISH PRIME MINISTER: For those waiting with bated breath for that favorite media catchphrase "the U-turn," I have only one thing to say. You turn, if you want to.


    THATCHER: The lady's not for turning.

    UNIDENTIFIED MALE: The real thing about Margaret Thatcher is that she didn't just lead our country, she saved our country.

    THATCHER: I stand before you tonight in my red star chiffon evening gown...


    THATCHER: ... my face softly made up and my fair hair gently waved...


    THATCHER: ... the "Iron Lady" of the Western world!



    GRETA VAN SUSTEREN, FOX NEWS HOST: Tonight, a special edition of "On the Record," U.S. leaders paying tribute to the "Iron Lady," former prime minister Margaret Thatcher. We will talk with former vice president Dick Cheney. He says she was a rock star.

    Margaret Thatcher was the longest-serving and only female prime minister in Britain's history, and today she died at the age of 87 after suffering a stroke.

    Now, here in the U.S., former prime minister Thatcher was known for her legendary partnership with President Ronald Reagan. We spoke with the former vice president earlier tonight.


    VAN SUSTEREN: Mr. Vice President, nice to see you, sir.


    VAN SUSTEREN: Well, today the people in Britain, they say they either loved or loathed her, former prime minister Margaret Thatcher. What are your memories of her? What -- what do you remember?

    CHENEY: Well, put me in the loved camp. I had enormous respect and regard for Prime Minister Thatcher. She was a great lady but a tremendous leader, too.

    I remember in the early days of Desert Storm, when we were first dealing with Saddam's invasion of Kuwait -- this was 20 years ago -- president sent me to Saudi Arabia the first weekend of the crisis to talk to King Fahad to get permission for us to deploy troops to the gulf, in the desert, to Saudi Arabia.

    And after the conversation -- I got his approval -- I called the president back in the Oval Office to get his authorization so I could go ahead and deploy the force. And Margaret Thatcher was there at the same time in the Oval Office.

    And a couple of months later then, I was in London. I was on my way to Moscow. But I stopped into number 10 Downing Street to pay my respects. And it was absolutely one of the most fascinating hours I ever spent. She kicked out all the staff and kept in me and Tom King, who was my British counterpart, and talked about what became Desert Storm and how you dealt with that kind of a crisis, basing her experiences in the Falklands 10 years before in 1982.

    VAN SUSTEREN: But there's that famous quote where, apparently, she told President Bush 41 not to go wobbly.

    CHENEY: That's not -- not true.

    VAN SUSTEREN: That's not true?

    CHENEY: Not true, no.

    VAN SUSTEREN: That's a falsehood.

    CHENEY: An old wives' story. There was never any doubt about what the president was doing. He didn't need any backing up.

    VAN SUSTEREN: Why was that so fascinating, spending that time with her?

    CHENEY: She was -- she had a grasp of the situation, the kind of thing we were dealing with. We were trying to send thousands of troops halfway around the world to deal with the very significant military problem.

    She had the problems and obviously far smaller force, but down all the way across the Atlantic to take back the Falklands after Argentina had invaded -- problems of public policy, of relationships with the military, especially public opinion, how do you marshal public opinion to support a democracy and an effort to mount a significant military campaign, those kinds of discussions that we had that afternoon.

    But as I say, it was like sitting in a classroom with a professor or an expert, you know, somebody who had really had firsthand experience in doing that kind of thing and was obviously also someone who really wanted to see us succeed, a great friend and ally of the United States. As I say, it was one of the most interesting hours I spent certainly in the run-up to Desert Storm.

    VAN SUSTEREN: Well, the Soviets, I think -- the Soviet journalists tagged her the "Iron Lady," which I think is a description she much appreciated. She liked that description.