This is a partial transcript from The Beltway Boys, June 8, that has been edited for clarity. Click here to order the complete transcript.

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FRED BARNES, CO-HOST: Welcome back to The Beltway Boys.

Mort's in the hot seat for our version of the college boards. It's really our tip sheet for next week's action.

Item number one, Mort, President Bush will deliver the commencement speech to Ohio State University next week. The theme, volunteerism. Boy, that's one you swoon over, right?

MORT KONDRACKE, CO-HOST: Yes, well, I love all this compassionate conservatism...

BARNES: I know.

KONDRACKE: ... and a different kind of Republican.

BARNES: Yes.

KONDRACKE: The further he stays away from the...

BARNES: Yes.

KONDRACKE: ... conservative end of it, the more I like it.

BARNES: Yes, right. But, well, you're going to be thrilled. All right.

Item number two, excuse me, the U.S. Conference of Catholic Bishops will hold their spring meeting next week in Dallas. What's on the agenda?

KONDRACKE: Well, you know, they have the, this recommendation that no, no tolerance policy toward pedophiles, and, and the, the one glitch that's been criticized is that a long — if long ago a priest fondled somebody and has never done it again, that they'll let him off.

I'm not so against that, but basic missing ingredient of this is no accountability for these cardinals and archbishops who covered for pedophiles.

BARNES: So you're still down on Cardinal Law?

KONDRACKE: I am. Want him to go.

BARNES: All right. All right.

Item three, the House will vote next week on ending the marriage penalty tax. Look for this one to pass in the House.

KONDRACKE: Yes, not the Senate. Well, no, I don't know about the Senate. I mean...

BARNES: Why?

KONDRACKE: ... this is a more defensible tax cut than that abortion of a, of a measure eliminating the estate tax. Here we are with deficits as far as the eye can see, and what are the House Republicans doing? They are, they are giving fat tax breaks, new fat tax breaks to people making over a million dollars.

BARNES: Mort, have you ever heard of a great man named Milton Friedman, who turned 90 years old, or is about to. His great insight is that it's not the deficit that's mattered, that matters, it's the chunk of the economy that government takes up. So don't worry about the deficit, it's big government that's the problem.

KONDRACKE: We can't afford things we need.

BARNES: All right. Item four, House and Senate negotiators begin working on an emergency spending bill to fight terrorism. What is the issue here?

KONDRACKE: Well, the issue is pork. I mean, there, there is a lot of ancillary stuff that's got nothing to do with, with terrorism in this bill, and President Bush is going to try to render it out with a veto threat.

BARNES: Yes. So you're on Bush's side.

KONDRACKE: I am, on that one.

BARNES: Good. And item number five, the U.S. withdrawal from the 1972 Antiballistic Missile Treaty becomes official next week, and...

KONDRACKE: Who cares?

BARNES: ... long overdue. I care.

KONDRACKE: Well, I know, but the fact is that, you know, this was supposed to be the end of the world.

BARNES: Yes.

KONDRACKE: ... the, the Europeans and the liberals in the United States thought that, you know, nuclear war was going to start when this was over...

BARNES: Yes.

KONDRACKE: ... you know who doesn't care? The Russians.

BARNES: Yes, good point.

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