This is a partial transcript from the Nov. 10, 2004 edition of "The O'Reilly Factor," Nov. 10, 2004, and rebroadcast on November 26, that has been edited for clarity.

Watch "The O'Reilly Factor" weeknights at 8 p.m. and 11 p.m. ET and listen to the "Radio Factor!"

BILL O'REILLY, HOST: In the "Personal Story" segment tonight, the hip-hop community went all out to elect John Kerry. Even Eminem, not known as a political scientist, used his rap to dash Bush. But, in the end, young Americans voted at the same rate they did the last time around in 2000.

With us now rap artist Reverend Run, also the author of the book "It's Like That: A Spiritual Memoir," and our pal, Russell Simmons, media mogul and activist, who reacted this way to the election.

RUSSELL SIMMONS, MEDIA MOGUL: I don't know what right-wing trailer park trash didn't go, but my family went.

O'REILLY: Russell, Russell! Russell, what was that?

SIMMONS: You know what? You find an excerpt out of -- I had a long discussion with that guy, and you find that excerpt.

O'REILLY: Was that out of context?

SIMMONS: It certainly was.

O'REILLY: Yes?

SIMMONS: I mean, I'm...

O'REILLY: So what was the point you wanted to make about trailer park trash?

SIMMONS: Poor people. Poor people came out.

O'REILLY: Yes.

SIMMONS: Black poor people came out.

O'REILLY: A little bit higher than last time around, but the young...

SIMMONS: Oh, 20 percent higher. That's a big number, by the way. We had -- we said two million more in 2004, and we got 4.6 more million votes.

O'REILLY: And good for you, I say.

SIMMONS: Million more votes. I...

O'REILLY: Good for you. I think everybody should vote.

But the young people didn't come out any more than they did last time around and that was the great hope.

SIMMONS: Well, I don't know why you keep saying that because the fact is that they did come out. Twenty percent more people...

O'REILLY: No, the stats say they didn't.

SIMMONS: Forty-one percent came out last time. Fifty-two percent came out this time.

O'REILLY: Well, that's not the stat we have. It's about the same.

SIMMONS: Well, you have the wrong status then.

O'REILLY: Between 18 and 24?

SIMMONS: Eighteen and 29.

O'REILLY: OK. Oh, you go to 29.

SIMMONS: Eighteen to 29.

O'REILLY: We figure after 24...

SIMMONS: Fifty-two percent came out.

O'REILLY: All right. We figure after 24...

SIMMONS: We reversed an ugly trend.

O'REILLY: All right. Eighteen to 24, they didn't. Twenty-nine, if you want to tack on, they were up.

Now, Reverend, were you a -- were you a...

SIMMONS: That's not true. Wait, wait, wait.

O'REILLY: What?

SIMMONS: They were up. They were up.

O'REILLY: Eighteen to 24 was flat.

SIMMONS: They were up. We turned around an ugly cycle.

O'REILLY: All right. The status that we have say they were flat, and that's the accepted...

SIMMONS: OK. Let's move on. Let's get...

O'REILLY: Reverend, were you devastated when Bush got reelected?

REVEREND RUN, RAPPER: No, I wasn't devastated at all. I went out to get people to vote period. I never count on results. I just do the work, and I think that a lot of people got excited. I had fun traveling the world. I love telling people to go out and vote.

I voted. My family voted. People that I know that didn't vote before voted. I was there when Russell's wife said this was her first time voting. I know that a lot of things changed and people were happy, and now more people will come out and vote.

O'REILLY: All right. So you're not -- you don't think that the republic is going down the drain because it's four more years...

SIMMONS: The first thing -- let me tell you my reaction. The first thing I did...

O'REILLY: Well, I got -- wait a minute. I'll get your reaction. Don't you want the reverend to be able to talk for...

SIMMONS: At 11:00, I called up the head of the Republican Party,, Ed Gillespie...

O'REILLY: Hold on.

SIMMONS: ... and I said there's a lot of great ideas that President Bush talked about for poor people, letting people -- people who were locked out or perceived themselves as locked out that voted -- these people came out, and now he's the president. He has all of these great ideas for them. How can we execute these ideas?

O'REILLY: So you...

SIMMONS: How do we fund...

O'REILLY: So you reached out then.

SIMMONS: ... No Child Behind?

O'REILLY: You reached out.

SIMMONS: Oh, I've always out.

O'REILLY: You've reached out.

SIMMONS: He's been in my office so...

O'REILLY: Now are you reaching out to the trailer park trash or...

SIMMONS: That's a very negative...

O'REILLY: You said it.

SIMMONS: But there was a discussion and it led...

(CROSSTALK)

RUN: ... your words.

SIMMONS: Yes. Of course it did.

O'REILLY: All right. Here -- here's why I make a funny on it.

SIMMONS: The fact is young people came out and voted. They voted for themselves.

O'REILLY: Here's why I make a funny about it. A lot of the pundits...

SIMMONS: They made a statement that they matter.

O'REILLY: A lot of pundits on the far left said anybody who voted for Bush was stupid. Now I don't -- you don't buy into that, do you?

RUN: We don't talk like that. We will never say somebody's stupid for voting for Bush.

O'REILLY: Right, but you knew you'd...

SIMMONS: George Bush said "poor" 15 times in his speech at the Republican Convention.

RUN: That's true.

SIMMONS: John Kerry never used the word.

RUN: He's middle class.

O'REILLY: So you voted for Bush?

SIMMONS: No, no. I'm making a point.

O'REILLY: OK.

SIMMONS: He said poor quite a bit, and he's interested in uplifting those people who...

O'REILLY: I think he is.

(CROSSTALK)

SIMMONS: And I want -- and I want for him to execute those great ideas he has for them.

O'REILLY: Well, here is what I -- here's what I think everybody should do. They should stop running down people who don't agree with them politically. You both agree with that. You'd agree with that, Reverend?

RUN: I do.

O'REILLY: OK. So, if you see things differently than me, don't attack me personally, but you say, look, here's why I see it differently. Now I didn't have you on during the campaign. I don't know why. I mean, we were both busy. But why did you -- why did you think Kerry would be a better president?

SIMMONS: Well, I did vote for John Kerry, but I don't know if you ever asked me that question. I voted -- but my favorite candidate in the beginning was Dennis Kucinich.

O'REILLY: Dennis Kucinich. We had him on.

SIMMONS: All right. I told you that before, right?

O'REILLY: He's a sincere man.

RUN: And Sharpton in second place.

SIMMONS: Sharpton and Dennis.

(CROSSTALK)

O'REILLY: ... issue?

SIMMONS: Personally, I am against the war.

O'REILLY: Right. So that was a big thing with you.

SIMMONS: Right, right. And, you know, most of the things that I'm really against or things that I'm for, John Kerry was not for or against.

O'REILLY: No, he wasn't against the war.

SIMMONS: I took the person who I thought operated from greater principles. Love is the basis of good government. The personal...

O'REILLY: Love?

SIMMONS: No, personal -- what you give the world, the world gives you back. And if you give the world good things, then the world gives you back good things. I thought John Kerry was capable of giving better...

O'REILLY: You saw the love in...

(CROSSTALK)

SIMMONS: ... not only to the world, but to the people in this country who are struggling, and I think it's very important that we choose a person who's going to uplift those people who are...

O'REILLY: All right. Now, Reverend, let me ask you...

SIMMONS: That's my opinion. That's all.

O'REILLY: And I respect your opinion. You know that.

Now, Reverend, let me ask you this. All the exit polls say that moral values was the swing, all right, for Bush.

RUN: OK.

O'REILLY: Do you understand that?

RUN: Of course I do. I think that people that voted for John Kerry weren't less moral. I think that people that voted for John Kerry were -- voted for humanity, and, when you vote for humanity, you vote for people.

The Bible talks about God said how can you love me who you don't see and you see your brother and not love him. So I believe half the world was divided, half the people that were closer to New York or closer to -- can smell the dead bodies, if you know what I mean, that was close, that they felt like they wanted to say I want a change.

And I believe that the other half that weren't as close said, you know what, this is more a moral stance to take than to take the stance of, you know, I don't care, I don't care. So that's how I feel.

SIMMONS: Angry. Angry, fearful people.

O'REILLY: Everybody is fearful in the war on terror.

SIMMONS: I feel -- I really -- no. Well -- well, I think...

O'REILLY: Everybody's fearful. It's a very insecure time.

SIMMONS: I think that what we export is what we -- what we...

O'REILLY: Well, that's a little simplistic.

SIMMONS: And I really -- no, it's very simple, but it's the simple ideas -- you know, that's a very important point.

O'REILLY: You know, we didn't export anything before 9/11 and we got attacked, OK, and 3,000 people are...

SIMMONS: Well, I don't know. Our foreign policy and our...

O'REILLY: Well, you don't...

SIMMONS: The war -- the war...

O'REILLY: ... kill innocent people.

SIMMONS: The war on poverty and ignorance is a war that I'm waiting for this government to fund, not only abroad but here. That's the war...

O'REILLY: Funding for education?

SIMMONS: ... that we need to fund, and that -- that -- I believe we could support uplifting those people who are locked down. If that's our sincere effort, then the world will give us back good grace. As an individual, as a country....

O'REILLY: It's a little -- it's a little Buddhist.

SIMMONS: It's very simple. Well...

O'REILLY: It's a little Buddhist here. We've got people who want to kill us for no reason.

SIMMONS: You know what?

O'REILLY: They're killing dishwashers up in the World Trade Center. So keep that in mind.

SIMMONS: Buddha, Abraham, Muhammad, Jesus Christ -- they all have the same principles.

RUN: The opposite of love isn't hate. The opposite of love is fear. We didn't want to operate out of fear.

O'REILLY: OK. Just let me...

RUN: We wanted to operate out of love.

O'REILLY: I'm going to leave you guys with this. If Zarqawi was sitting here instead of me and you guys said what you said, do you know what he would do? He would behead you. Just keep it in mind.

All right. Russell Simmons and Reverend Run, everybody. There they are. Good guys, both.

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