This is a RUSH transcript from "The O'Reilly Factor," June 14, 2012. This copy may not be in its final form and may be updated.
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BILL O'REILLY, HOST: Continuing now with our fair and balanced "Campaign 2012" report this evening. Here now, the co-host of "THE FIVE," Democrat Bob Beckel.
Now, I'm going to ask you the same question I asked Rove. You know, I want you guys to analyze your own home team. So what is the Obama campaign doing wrong? The biggest thing?
BOB BECKEL, CO-HOST, "THE FIVE": What's the biggest problem? Is the economy. I mean, you can't -- the economy is -- it's overwhelms everything for a while.
O'REILLY: Should he be blaming Bush?
BECKEL: Yes, for one reason. And that is that in every bit of polling I've seen for the first time, you know, in all the years I've been around politics, the hangover effect, if you ask people in these targeted states, what -- who you blame for this thing, and Bush still scores fairly high.
Now, I don't think on election day that's going to be the case. And the other thing I would do if I was them is I'd get him off the air.
O'REILLY: Get who off the air?
BECKEL: Obama. There's too much exposure.
O'REILLY: All right. So you say that it's not a mistake to keep blaming President Bush --
BECKEL: For a period of time.
O'REILLY: For a period of time? That window's got to be closing. It's June.
BECKEL: Probably till Labor Day.
O'REILLY: All right. So you blame him till Labor Day and stop blaming him then?
BECKEL: Well, he's got to ease up on it a little bit.
O'REILLY: Got to ease up on it. I just think that diminishes President Obama. And I'm not saying this because I'm rooting for anybody. I'm just saying, look, if you're a big boy wearing the big, long pants, not the short pants, you don't blame somebody else. You don't say, "Look, I'm the manager of the Kansas City Royals. I've been employed for three years. We're still in last place. It's Ziggy's fault before me." You don't do that.
You say, "Look, I'm going to get us out of here. I know it's tough." You don't make excuses about that. You're a big boy.
BECKEL: If you're a big boy. Bill, you're a big boy. You wear the big pants around here.
O'REILLY: I have the big pants.
BECKEL: That's exactly right. And nobody will challenge that. Well, maybe. Listen, he doesn't do it. You get somebody else to do it.
O'REILLY: That's right. Surrogates can do it. But he looks whiney when he continues --
BECKEL: But he doesn't -- he says we inherited this, we inherited that. It's code words. Right?
O'REILLY: We've heard it 50,000 times.
What about -- what about Holder? Now Holder looks like he's in, like -- he's in deep trouble. And should they do the Jeremiah Wright on Holder and kind of toss him out the window a little bit?
BECKEL: Are you suggesting that they pushed Jeremiah Wright under the bus?
O'REILLY: Yes. I think they did. Not only put him under the bus. Then they drove the tires over his neck.
BECKEL: And beyond that, then backed up.
O'REILLY: Backed up over him and the exhaust pipe.
BECKEL: You know, you're saying about Eric Holder. It fascinates me. I listen to -- what's that dude's name, that congressman from -- Issa? Guy himself almost got indicted.
O'REILLY: The dude.
BECKEL: Yes. I've got -- I've got no interest in him at all.
O'REILLY: OK, but look, Holder is in trouble. Should they dump him?
BECKEL: No. No. Because you --
O'REILLY: Stand by him?
BECKEL: Let me tell you why. Do you think in Cocomo, Indiana, Bobby and Susie Middle America get up in the morning and say, "God, that Eric Holder"?
O'REILLY: No, you're absolutely right about that.
BECKEL: Nobody cares.