This is a rush transcript from "Your World," September 22, 2014. This copy may not be in its final form and may be updated.
NEIL CAVUTO, HOST: Well, I have said it before. It's not the red or blue. It's about the green. We're only about the green. And you just heard Republican Karl Rove point out Senate Democrats have more of the green than -- well, than anyone else right now.
To Democratic strategist Pat Caddell on whether that cash makes the difference.
PATRICK CADDELL, FORMER WHITE HOUSE ADVISER: Not necessarily.
CAVUTO: Not necessarily.
CADDELL: I mean, first of all, I mean, it's shocking because the Democrats are doing a terrific job raising money.
And -- but, you know, it's -- the real question is whether this is an election about money or message. Now, the other question is, why are the Republican donors hanging back? And I think that has to do with how poorly they think some of the groups have done with their money.
But, look, we have a phenomena here that is really important, Neil. On the one end, we have the national polls, which are unanimous in the rising sense of a rising, better position for Republicans. The president's numbers are in the tank. And the fear and apprehension that's going on, that suggests this could be a tide election.
Then you get down to specific races and you have much closer races because those campaigns are being waged to some extent -- being waged to some extent on what I call small ball. I'm -- that person's this. This person's that.
CAVUTO: Right. Right.
CADDELL: What the Republicans lack is a national narrative that ignites what the national picture is in these states. That's what the Democrats are trying to stave off.
And understand something. Just take the Fox polls last week on the four states, Kansas, Iowa -- Iowa had an undecided of 18 percent, Louisiana 23, and in North Carolina, it was 17. We don't get these kind of undecideds. These incumbents are running very low.
CAVUTO: That's where the money can make a difference, right, in some of these races that will -- are close enough where if you get a Democrat in there, it staves off the Republican onslaught, right?
CADDELL: Well, and here's -- that's what they're trying to do.
But if I were the Republicans, I would stop and say, wait a minute, we're having a national election. We should be having a -- more referendum. I feel in 2012 the Republicans failed because they had no national message. It's too late for them to do what they should have done, which is have at least -- get on the Capitol steps, a la Newt Gingrich and the Contract for America.
But what they need to do is, they need to make this a referendum election. If you're happy with this -- take the issue of immigration, for instance. The president says he's going to amnesty five million to 11 million people come after Election Day, like you people in the country are stupid.
They couldn't before because the country has turned on this. And then we had the vote in the Senate last week, where Harry Reid, with all these...
CAVUTO: Right. Right.
CADDELL: ... held back, waiting to see if they were needed. The Republicans should be out there saying, you know what they will do after the election. If you want the president to do that, then vote for them. If not, vote for us.
I mean, I'm just saying, you nationalize this election.
CAVUTO: Right. Well, then what is -- what is happening in these close -- you mentioned Iowa. You can argue Alaska is pretty much kind of the same drill, that obviously they're planning -- that is, Democrats are planning, look, divide and conquer, pick your spot. Throw the money into these races.
CAVUTO: Here's where we can prevent the Republicans from getting the six seats. Right?
CADDELL: Right. They're trying to hold on to those, but...
CAVUTO: Is it working thus far?
CADDELL: It has kept them in the race. I would have thought these would have been put away.
What I'm saying is, there's still time for a big surge or not. Look, remember, the Republicans are the party that have -- we saw in '12 in the Senate can snatch defeat from the jaws of victory.
CADDELL: And they have a real way of doing that.
But the -- all of the template looks good for them. But this -- let me tell you, the Democrats are running a message-discipline campaign. It's not every campaign on its bottom. Every Democratic campaign is hammering war against women, hammering all of these things...
CAVUTO: So, that must test well in these polls
CADDELL: It tests well, but they're all implementing it in the ads.
What I'm saying is, the Republicans should just go over right the top in these states because you start making those candidates, the Democrats the surrogates for Obama and what he wants to do. And, people, do you want to continue to go where you're going?
That's an election that could then blow up. Remember one thing. The Republicans' elite establishment has a problem grasping big issues. In 2010, they had to be dragged to health care, to Obamacare, by the grassroots. They now have a huge field, given the perception the president is weak and the country is not safe.
CAVUTO: All right. Patrick, feel better?
CADDELL: Thank you. I just...