This is a partial transcript from The Beltway Boys, July 13, that has been edited for clarity. Click here to order the complete transcript.

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MORT KONDRACKE, CO-HOST: Welcome back to The Beltway Boys.

Let's see if Fred is up to the challenge of this week's Tip Sheet.

ITEM ONE, President Bush will talk about the economy in Alabama on Monday, and headline a fund raiser for Republican gubernatorial candidate Bob Riley.

FRED BARNES, CO-HOST: Well, look, Bush will be a big hit. They love him in Alabama. He's a hero there. Bob Riley, this is one of the few states in which Republicans have a chance to pick up a governorship. Riley is ahead in the polls. Republicans otherwise are going to lose in governorships in a lot of states.

KONDRACKE: Funny the way Bush always has a fund raiser and an event...

BARNES: Yes.

KONDRACKE: ... to get, get the taxpayers to pay for his trip.

BARNES: All presidents have done this, Mort.

KONDRACKE: Yes, I know.

ITEM NUMBER TWO, a special House panel will hammer out a bill on President — the president's homeland security plan.

BARNES: You know, one of these House committees, I guess the House Transportation Committee, doesn't want the Coast Guard to be in the new Homeland Security Department. Of course it ought to be in there. It's essential to it. They're crazy. Stick with Bush's bill. It makes sense.

KONDRACKE: Dick Armey will stick with that bill. He's the head of that special task force.

BARNES: Yes.

KONDRACKE: ITEM NUMBER THREE, the Senate will begin to debate on the prescription drug plan.

BARNES: You know, Democrats just won't compromise on this. They want this gold-plated plan that one of the most intelligent journalists in America has written just this past week that it will lead to price controls, which will be harmful to new, innovative drugs. Mort, that was you who wrote that, it was a very good column.

KONDRACKE: Well, thank you very much.

ITEM FOUR, Fed Chairman Alan Greenspan will deliver his semiannual report on — in testimony before the Senate Banking Committee.

BARNES: You know, he's for expensing of — what do you call them, options...

KONDRACKE: Right.

BARNES: ... that are given to CEOs...

KONDRACKE: CEOs.

BARNES: ... and so on, which would loser earnings. It looks like Congress is not going to go along with him.  I'll bet he complains on Wednesday that they're not.

KONDRACKE: Well, I, I hope he does more than that. I hope he has some message that will give us some hope...

BARNES: Yes.

KONDRACKE: ... and will send the stock market...

BARNES: Spur a rally?

KONDRACKE: Exactly, please.

BARNES: Yes, me too.

KONDRACKE: ITEM FIVE, if you're in the area, check out Janet Reno's Dance Party in South Beach next weekend. The rather unusual fund raiser was inspired by the popular Saturday Night Live skit back in January of 2001. Here it is.

(BEGIN VIDEO CLIP, SATURDAY NIGHT LIVE, NBC, January 2001)

UNIDENTIFIED ACTOR: Oh, Janet, I can't believe I have to say goodbye.  What do you do when you get sad?

UNIDENTIFIED FEMALE (as Janet Reno): I just dance.

Now, hit it!

(END VIDEO CLIP)

BARNES: The best fund-raiser I have ever seen, that's for sure.

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