This is a rush transcript from "Your World," August 1, 2012. This copy may not be in its final form and may be updated.
ERIC BOLLING, GUEST HOST: Conservatives fired up today after a big win in Texas, Tea Party favorite Ted Cruz cruising to a victory.
Sarah Palin helping him to rev up the base just days before the vote, proof the Tea Party movement is anything but dead.
To former vice presidential nominee and Alaska governor and friend of mine.
Governor Sarah Palin thanks for joining us. Congratulations on the big win in Texas, Governor.
SARAH PALIN (R), FORMER ALASKA GOVERNOR: That was a big win for Texas. It'll be a good win for all of America with this constitutional conservative getting there to really represent all us who want to defend this republic.
BOLLING: Oh, so tell us, how does a guy who gets outspent 3-1 by Mr. Dewhurst, how does he pull off a win like that?
And I think, if I'm not mistaken, he didn't even have as many votes in the original round. I think Dewhurst beat him originally, but not by a wide enough margin to not require the recall -- or the follow-up vote. How does he win -- how does he win with so much money going the other way?
PALIN: Well, I think that this sends a message that he who has most money and the highest-paid "expert consultants" -- quote, unquote -- doesn't necessarily come out on top, obviously.
I think what Dewhurst's campaign did was underestimated the wisdom of the people. And people in Texas and across America have been saying, you know, no more business as usual, no more of that establishment embracement of status quo that's spending us into oblivion in Washington, D.C.
We want reformers to come in there, take our tax dollars back from politicians who are spending us into oblivion, put government back on our side. And Dewhurst's campaign was full of these high-paid expert consultants, who, by the way, have lost race after race after race recently.
In fact, one of them I know well through reputation because he worked for an opponent of mine as I ran for governor, and I beat him back then, too. And the same fellow is one of those consultants who hasn't won any races because he is not resonating with the people.
His message is basically just business as usual, more of the same, go along to get along. And people are tired of that. We can't afford it.
BOLLING: Right. Governor, I know it's a title you may not want, but people are starting to use it around, kingmaker, Governor Palin, kingmaker. Cruz, Dewhurst, you back Cruz, he wins. Mourdock, Lugar, Mourdock takes out a guy who's been in the Senate for 36 years.
Mike Lee beats Bob Bennett, who has been around for 18 years. You backed Mike Lee.
Can you weigh in on what Bob Bennett said about the Tea Party? Take a listen to what he had to say and we want your response.
(BEGIN VIDEO CLIP)
SEN. ROBERT BENNETT, R-UTAH: I do feel that the Tea Party wave is receding and it's not going to be nearly as big a factor in this election as it was in 2010.
(END VIDEO CLIP)
BOLLING: So, what about that, Governor?
PALIN: Well, bless his heart. He's a wee bit out of touch.
You know, the Tea Party wasn't receding, nor was it dead in 2010, when the Tea Party defeated this senator-turned-lobbyist in Washington, D.C. And certainly the Tea Party is not receding nor is it dead in the 2012 election, as evidenced by Cruz last night, as evidenced by people doing so well, say, in Missouri, Sarah Steelman, say, in Nebraska, Deb Fischer.
Throughout the country, you are going to see many Tea Party patriotic type average Americans who have put their names forward in the name of service to our country to take government back, get it off our backs and put it on our side. You are going to see a whole lot of these Tea Party-backed candidates do extremely well, as evidence of the Tea Party being alive and well.
BOLLING: Alive and well.
Governor, what about the convention? Now, if I were Governor Romney, I'd be saying, let's get – what's Governor Palin's -- what the area code in Wasilla, Alaska? Let's get her on the line here.
Has he extended an invite to you for the convention at the end of this month?
PALIN: You know, some of his people have talked to some of "my people" -- quote, unquote -- the staff that I have at the political action committee.
I just want to help. And my PAC, we just want to help. And, sometimes, helping means you step aside and you don't -- certainly, you don't invite yourself into a leadership or speakership-type role in a convention like this. You try to work with a strategy that the campaign has in place.
And, evidently, Romney's campaign has a strategy that they will implement. And whether I'm there or not as a speaker, I'm comfortable either way, just like Newt Gingrich said he was comfortable either way, speaking or not.
I will continue, though, Eric, to really focus on those down-ticket races, those Senate and House races...
PALIN: ... that will be so instrumental in reforming government, shrinking it, allowing the private sector to grow and thrive.
BOLLING: Very important, very important, very important.
But I notice something going on, on the left. I notice that President Obama extended an olive branch to former President Bill Clinton. They buried that hatchet. It's well-known what was going on between the two of them. He offered him a spot, a high-profile speaking spot at the DNC, the Democratic Convention.
Also, Elizabeth Warren gets asked to speak there as well. They seem to be, they seem to be saying let's put those things aside. Why wouldn't the right do the same thing? Why wouldn't the Mitt Romney -- Mitt Romney extend it to the conservative movement, to the Tea Party movement, and say, here, here's a high-profile spot for Sarah Palin?
PALIN: Well, I know, speaking personally, there is no hatchet to bury or olive branch that needs to be passed between Mitt Romney and myself.
We have a good relationship and I have great respect for him and am so thankful that the GOP has a strong candidate who understands the private sector and what it takes to get the economy roaring again, that he will be our candidate.
So, I can't speak, though, for their strategy and who it is that they will choose to be participants in the convention. I will tell you, though, it is cracking me up watching what the Democrats, totally -- this idiotic strategy of theirs, to have Elizabeth Warren, who has almost confessed to her Marxist views, these views that replicate failed European countries about redistribution of wealth, and all these failed policies.
And she is going to be the face of that message in the convention. I think it's very risky of the Democrats, because there are a lot good Reagan Democrats, a lot blue-collar, hardworking, working-class Democrats, Blue Dogs, who don't want to see that type of message being reflective of their entire platform, because it's a ridiculous and failed plank in a platform, these Marxist views.