• This is a RUSH transcript from "The O'Reilly Factor," January 7, 2011. This copy may not be in its final form and may be updated.

    Watch "The O'Reilly Factor" weeknights at 8 p.m. and 11 p.m. ET!

     

    BILL O'REILLY, FOX NEWS HOST: In the "At Your Beck and Call" segment tonight, our pal Beck is back from a nice vacation in a warm climate. But he's still stone cold about "Obamacare." That is where we begin this evening.

    (BEGIN VIDEOTAPE)

    O'REILLY: So, Beck, you've been saying for a while that you don't like Obamacare. You feel that it's unconstitutional, bad for the country, and on and on.

    GLENN BECK, FOX NEWS HOST: It's going to destroy us.

    O'REILLY: OK, going to destroy the country. Next week they're going to vote -- they the Republicans in the House -- to repeal. Many of us feel it's a largely symbolic vote because the president will veto, even if it did get through.

    BECK: That is fantastic. Let him veto it.

    O'REILLY: OK.

    BECK: This guy is a political coward. He hasn't -- tell me -- tell me -- every time it's crunch time. They need him and he's, like, in a foreign country. I don't know where he is. He's always some place else. Every time. He doesn't take responsibility for anything.

    O'REILLY: Well, he has, though, on a Obamacare. That's his signature legislation. He is behind it. He can't get out of it.

    BECK: Let him have it alone. Let him have it alone. Let him -- for two reasons. One, I'm not sure if he vetoes it.

    O'REILLY: Can I -- would you like to bet your house? Because I'll bet you my house there is no way.

    BECK: If you'll take it. I'm (UNINTELLIGIBLE) to sell it. Will you take it?

    O'REILLY: There's no way -- this is what I'm trying to get across to guys like you. There's no way at all that -- he has to...

    BECK: I agree with you. I agree with you that 99.9 percent chance he vetoes it.

    O'REILLY: Right.

    BECK: That's fine. Let him have it and own it alone. Alone.

    O'REILLY: OK. And that's a legitimate thing.

    BECK: It only takes four senators, four. I talked to these people at Generation America. And this is a group of -- this is actually a guy. He was watching the country being destroyed with Obamacare, and AARP really made him angry. And he said they've sold them down for money. They've sold out our older generation for money.

    O'REILLY: Well, there is -- there is an absolute legitimate beef against AARP.

    BECK: Sold them out.

    O'REILLY: Because they sell the Medigap insurance.

    BECK: Yes.

    O'REILLY: And they make tons of money doing it.

    BECK: Correct.

    O'REILLY: So it's better for them to have Obama care.

    BECK: Right. And people trusted that they would say. So when they endorsed it and said, "No, I think this is going to be good," they didn't reveal that they sell the gap insurance.

    O'REILLY: Yes, but we did on "The Factor." We've been pounding these guys for years at AARP.

    BECK: You're right. Absolutely right.

    O'REILLY: Megyn Kelly on this program yesterday said that she believes the Supreme Court will hear this year about the mandate forcing you to buy insurance.

    BECK: I hope so.

    O'REILLY: And rule it unconstitutional.

    BECK: I hope so.

    O'REILLY: So all of this might just be moot.

    BECK: That would be great.

    O'REILLY: Would that restore your faith in America, Beck?