This is a partial transcript from "The Beltway Boys," August 7, 2004, that has been edited for clarity.

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FRED BARNES, CO-HOST: The resumption of the ad wars is the subject of this week's trail dust.

The very brief lull in campaign ads came to an abrupt end this week with new ads by campaigns, political parties, and so-called independent groups. Here's a quick look at ads from the DNC and the Bush campaign.

(BEGIN VIDEO CLIP, DEMOCRATIC NATIONAL COMMITTEE AD)

KERRY: I defended this country as a young man, and I will defend it as president.

We need a strong military, and we need strong alliances. And then we will be able to tell the terrorists, You will lose and we will win...

(END VIDEO CLIP)

(BEGIN VIDEO CLIP, BUSH-CHENEY '04 INC. AD)

ANNOUNCER: The last few years have tested America in many ways. But together, we're rising to the challenge, standing up against terrorism, and working to grow our economy.

(END VIDEO CLIP)

FRED BARNES, CO-HOST: Morning in America.

MORT KONDRACKE, CO-HOST: I don't think so.

BARNES: ... Bush. What did you think of the Kerry ad?

KONDRACKE: I, well, I, I, I don't like Kerry's logic. We will build up our military, then, then we'll get alliances together, and then we can say to the terrorists...

BARNES: Yes.

KONDRACKE: ... you know, You will win. We've got to, we've got to be able to say to the terrorists right now, You're going to lose, the way John Edwards did...

BARNES: Yes.

KONDRACKE: ... you know, we're coming after you, and we're going to destroy you. That's what...

BARNES: Yes, I know, that was...

KONDRACKE: ... he should have said.

BARNES: ... a week at the end of a Kerry ad. But I liked the music. OK.

KONDRACKE: But I did not like the Bush ad.

BARNES: ... you don't think it's...

KONDRACKE: I think the Bush, I think...

BARNES: ... Morning in America?

KONDRACKE: ... no, it ought to be Bush on camera talking about what he's going to...do.

BARNES: All right. Now, here's a sampling of ads from so-called 527s, those independent, and I say independent, political groups. First is the pro-Democratic Media Fund, followed by the anti-Kerry ad by the Swift Boat Veterans for Truth.

(BEGIN VIDEO CLIP, MEDIA FUND AD)

ANNOUNCER: You put in 30 years at the factory. You got good pay, health care. Then they send your job overseas. And under George Bush, the company actually gets a tax break for doing it. Now Bush says we're in recovery.

(END VIDEO CLIP)

(BEGIN VIDEO CLIP, SWIFT BOAT VETERANS FOR TRUTH AD)

GEORGE ELLIOTT, LIEUTENANT COMMANDER, TWO BRONZE STARS: John Kerry has not been honest about what happened in Vietnam.

AL FRENCH, ENSIGN, TWO BRONZE STARS: He is lying about his record.

LOUIS LETSON, MEDICAL OFFICER, LIEUTENANT COMMANDER: I know John Kerry is lying about his first Purple Heart, because I treated him for that injury.

VAN ODELL, GUNNERY MATE SECOND CLASS: John Kerry lied to get his Bronze Star. I know, I was there, I saw what happened.

(END VIDEO CLIP)

BARNES: Well, what do you think?

KONDRACKE: Well, that, that second 527 ad, the, the Swift Boat...

BARNES: Yes, yes, right.

KONDRACKE: ... suffered a major blow when the first guy that you saw there...

BARNES: Right.

KONDRACKE: ... George Elliott, recanted and said that he regretted that he, that he participated. That...

BARNES: OK.

KONDRACKE: ... that whole...effort is... is, that whole effort is...a disaster...

BARNES: Well, no, it isn't, not on the basis of that...

KONDRACKE: Politically it is.

BARNES: ... the question is the -- No, it's not.

KONDRACKE: Oh, yes.

BARNES: The question is whether -- Look, the question is whether what several of those guys said is true or not. Now, this is what the media has to find out if nobody else will. Maybe Kerry will...

KONDRACKE: OK, well...

BARNES: ... provide some evidence. I, I'm afraid they won't. But that's, but that's what, but that's what needs to happen. I mean, look, why is this issue on the table? Because Kerry said the bottom line of the presidential campaign is the fact that he served in Vietnam, and that means he'll be a strong president.

KONDRACKE: The, this, look, this looks like a late hit to me.

BARNES: Yes ...

KONDRACKE: This is 30 years on -- wait a minute. These, these, where have these guys been...

BARNES: Well...

KONDRACKE: ... for these 30 years?

BARNES: Well ...

KONDRACKE: John Kerry ...

BARNES: ... you haven't had Kerry out running for president saying the major thing about me you need to know is that I served in Vietnam...and I was a hero.

KONDRACKE: ... I completely...

BARNES: OK?

KONDRACKE: ... agree that it deserves...investigation...

BARNES: OK, good.

KONDRACKE: ... real investigation...

BARNES: Well, good.

KONDRACKE: ... I, I fear that it won't happen.

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