• This is a RUSH transcript from "The O'Reilly Factor," July 11, 2012. This copy may not be in its final form and may be updated.

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    BILL O'REILLY, HOST: "Personal Story" segment tonight, you may remember Jimmie J.J. Walker, who hit it big in the TV sit-com "Good Times." Mr. Walker currently has a book out called "Dyn-o-mite," his signature phrase. We spoke a few days ago.


    O'REILLY: In studying your rise from a poor kid, all right, to national TV, "Good Times," it was interesting to see that you made it on your own. You're an icon. Everybody knows "Good Times."


    UNIDENTIFIED FEMALE: At least you're not a greeter girl.

    JIMMIE J. WALKER, ACTOR: You know, I'm known as the sultan of smooth.


    O'REILLY: And you separate then from many, many African-Americans who support Barack Obama. You're not a real big supporter of his. How did that happen?

    WALKER: Barack Obama is more like a Tony Roberts -- Tony Roberts type of guy. You feel real good and you're happy and everything. And then you go home, and you realize there's a foreclosure sign on your door. And you just go, "Wait a minute. I just had this great meeting with this guy, and he made me feel real good."

    And I don't think he's a bad guy. I don't think he's a good guy for the job we have to do.

    O'REILLY: When you say that, other African-Americans are, you know, "Hey, come on."

    WALKER: You just can't blindly vote for somebody just because they are your -- sometimes even a brother, you have to let him go and he's not doing the gig.

    O'REILLY: Did you vote for him first time around?

    WALKER: I never voted for him.

    O'REILLY: Now, when African-Americans say to you, "Hey, you're betraying your race" or -- because you know, there's a lot of racial stuff around President Obama. You say?

    WALKER: I say let's look at the job that he's done. And I go back be to the old Reagan slogan, "Are you doing better now than you were four years ago?"

    O'REILLY: You just keep it policy.

    WALKER: I keep it policy. I just think that he is not the guy.

    O'REILLY: OK. Jay Leno. I've been on the program a dozen times or so. I don't really know Jay, but he's been respectful to me, nice to me.

    WALKER: Great guy.

    O'REILLY: He does -- he does a fine program. But you feel that he's changed a bit?

    WALKER: He's changed. He's let us down. We all started literally within the last -- you know, same five-year period.


    WALKER: Thirty million people are not out of work. Thirty million people are just in between jobs. That's like a lifeguard saying to a guy that's drowning, "You're not drowning. You're just in between land."


    O'REILLY: You came up with Leno.

    WALKER: Yes. And then Jay worked for me as a writer, along with David Letterman and many others: Louis Anderson, a lot of other people.

    O'REILLY: Where were you when he was writing for you?

    WALKER: I was on our show in Los Angeles.

    O'REILLY: OK. So they were writing one-liners for you.


    WALKER: Criminals now have their own TV show, "America's Most Wanted." Criminals are watching themselves every weekend like, "Look, there's Bubba."


    O'REILLY: So how did Leno change?

    WALKER: He changed in terms of bringing on new talent, which is that spot which is Johnny Carson, Jack Parr, Steve Allen. He has not broken in his 20-something years on the air, he has not broken one major act.

    O'REILLY: But, you know, it's a different time now and the ratings pressure is so intense that a lot of times...

    WALKER: Jay is No. 1 and Jay can do whatever he wants.