This is a rush transcript from "The Five," July 26, 2012. This copy may not be in its final form and may be updated.

GREG GUTFELD, CO-HOST: So according to Gallup -- a dating service for ponies -- business owners' approval of President Obama fell to 35 percent. It's no surprise. This "we didn't build it" thing was like Howard Dean' scream.

It was an epiphany. Like you never really understood the person until now. It's like when your date insults the waiter. The light goes on. Aha, that light says. Ladies and gents, we have a loser.

And it's also silly. I mean, where would we be without Sir Isaac Newton? Do you think the government caused that apple to fall on his head?

Albert Einstein fled Europe to get away from its governments.

Do you think that Pez dispenser was made by a guy with help from the government? He was using a family recipe. Bet you didn't know that, Kimberly.

And what about the father of American invention, Benjamin Franklin. Do you think he had government help? No, there was no government. In fact, the U.S. government was one of Ben's inventions. This guy didn't even need government to help invent government.

Did Eli Wallach have any help inventing the cotton gin? Did Orville Redenbacher have any help at Kitty Hawk?

Look, waiting for the government to assist your creativity kills that creativity. Why invent a better mousetrap when the government hands out ones that are almost OK?

You want to see America's creative genius for invention return? Make sure inventors are at each other's throats. That's competition. That's why capitalists made the Mustang and socialists gave us the Hugo (sic).

Or the Yugo. I meant to say the Yugo. Or is it Hugo?

BOB BECKEL, CO-HOST: Redenbacher, is that what you said? That's good.

GUTFELD: Yes. Are you surprised, Bob, that business owners resoundingly oppose President Barack Obama?

BECKEL: It's shocking. It's kept me up all night long when I heard about it.

Now, first of all, this was -- most of this was taken pre- his comments -- that you all taken out of context about. And he's always been near the bottom with business owners and by definition, was going to vote Republican. So, it doesn't surprise me. I think last time they were second to the bottom. And this time, the bottom was fishermen and lumberjacks or something.

(LAUGHTER)

I'm always a little suspicious of breaking these things out by job group but it's not surprising, no.

ANDREA TANTAROS, CO-HOST: I thought his approval was the lowest among Democratic co-hosts --

(CROSSTALK)

BECKEL: That's funny.

GUTFELD: Here's the thing, though, it's like when the problem with the American economy is about confidence, this is it. It's the business owners. If they're not happy, we're screwed.

TANTAROS: How are we supposed to hire?

And that was an excellent monologue, because you pointed out, not only has the government not created all those inventions that we benefit from, the government's broke. So, if you're sitting around for them to help you, they have no money. The money has run out.

I think from day one, the president's calculus has been grow the government, give more handouts, and then at the end of the day, cross your fingers and hope that on election day, more people are going to get a check that will come to the polls, more than the small business owners and the horse study, the Gallup, pony study that you said.

GUTFELD: Yes. It's amazing though, Eric, because this is something people were waiting for Mitt Romney to talk about and Obama gave it to them. This is -- when they start having debates in October this is it.

GUILFOYLE: Bob's snoring.

(CROSSTALK)

ERIC BOLLING, CO-HOST: Do me a favor. Take the two shot of me and Beckel, ready?

BECKEL: Oh, I'm sorry. Are we still talking about --

BOLLING: Wake up.

(CROSSTALK)

BECKEL: Do that one more time and you're dead.

BOLLING: First things first, Bob, this is a daily -- daily -- tracking poll so you can't say it was taken before Obama --

(CROSSTALK)

BOLLING: Daily tracking.

OK, so business owners, 59 percent disprove of the way he's handling his job, President Obama. Farming industry, 57 percent disprove. Transportation workers, 55 percent. It goes on and on. Just about nobody is below 50 percent disapproval of President Obama's handling of --

BECKEL: That's not exactly right.

Let me, first of all, next time you take a shot at me in my ribs, you better say good-bye to your wife and kid, OK?

KIMBERLY GUILFOYLE, CO-HOST: Oh my God, you can't make that threat, Bob.