This is a rush transcript from "Hannity & Colmes," January 29 2008. This copy may not be in its final form and may be updated.

SEAN HANNITY, CO-HOST: As we say goodbye to Brit and we say hello to Dick Morris, who's here in our New York studio. And by the way, to get up to date with the presidential race and get Dick's columns and newsletters, it's all for free. You just log onto Dickmorris.com.

Your general overview of tonight, what it means for the Republicans?

DICK MORRIS, FORMER CLINTON ADVISER: Well, the most important thing that happened tonight has nothing to do with Republicans. It has to do with the Democrats, has to do with Hillary Clinton. Of the voters who decided in the last three days, they broke 35 for Obama, 35 for Hillary.

HANNITY: Right.

MORRIS: Of the ones who decided in the last month, they broke 57 percent for Hillary, 32 percent for Obama.

HANNITY: But this...

MORRIS: That's the best tracking poll you're ever going to have.

HANNITY: It's amazing the number of people, knowing that the delegates are not going to — the delegates have been shut out of Florida because they moved up their primary date, it's pretty significant the number of people that voted, but what you're saying here is the trend towards Obama is now obvious and real.

MORRIS: This is the best tracking poll you're ever going to have.

HANNITY: Yes.

MORRIS: And indicates that unless the Clintons turn this around — they lost 30 points over the last couple of weeks.

HANNITY: All right, let me move to the Republican race, which is...

MORRIS: In fact, probably the last three days.

HANNITY: We're going to get back to that here because the more prominent race that we've been watching all night here tonight is in the Republican Party.

MORRIS: Sure.

HANNITY: It was very clear, 43 percent, exit poll data that came out, is that the endorsement that the governor of the state of Florida...

MORRIS: Right.

HANNITY: ... had a very important impact on the voters' minds.

MORRIS: Right.

HANNITY: Twenty percent said a very important impact.

MORRIS: Yes.

HANNITY: So you have Senator Martinez, "Stormin' Norman"...

(CROSSTALK)

HANNITY: ... Charlie Crist...

MORRIS: ... in Florida.

HANNITY: Yes.

MORRIS: Everybody adores him there. He's very strong. This race wasn't that close. McCain won by 5. And I think that — and that was despite a two-or-three-to-one financial edge for Romney, certainly, in the last couple of days. What you now have is McCain's momentum against Romney's money, and my bet in this race is on McCain.

HANNITY: Is it also the establishment now seems to be lining up behind Senator McCain, when we saw Governor Crist and we saw Senator Martinez...

MORRIS: Right.

HANNITY: ... who's going to join us here in a few minutes, "Stormin' Norman," the liberal newspaper, GOP establishment — that clearly happened here, and it had a profound impact, obviously, according to the exit polls.

MORRIS: I mean, these guys have all got to run for office under the nominee, and I think they realize that McCain can reach out to Hispanics and can get that — if Obama wins the — if Clinton wins the Democratic nomination...

HANNITY: Right.

MORRIS: ... you're going to of millions of people that hate her that are liberal Democrats and independents, and McCain can get those votes, Romney can't.

HANNITY: Romney was very gracious at the beginning of his speech, but then very forceful towards the end. And one of the lines he used that, You won't have change in Washington by sending the same people back to Washington, just sitting in different chairs.

MORRIS: Yes, well...

HANNITY: So he's reinforcing that message even as he now pushes it towards Super Tuesday.

MORRIS: He is. But you know, McCain has — in my judgment, McCain and Lieberman are the two best members of the Senate. Another way to phrase that is they're the only two good members of the Senate. And they both...

(CROSSTALK)

(LAUGHTER)

ALAN COLMES, CO-HOST: They may be working together in an administration very soon, Dick. Let me ask you, though...

MORRIS: And they really — whenever you have an issue on earmarks or ethics or torture or the Ethics Committee or any of that stuff, sometimes he's misguided, but McCain is always in the forefront.

COLMES: I think McCain has it right on the Geneva Convention. He has it right on torture. But let me ask you about — you talked about an interesting tracking poll in terms of which way things are moving on the Democratic side.

MORRIS: Very interesting.

COLMES: But on the Republican side, didn't we also find that the early voters were voting for Romney, but more of those who voted today, the live voters, were voting McCain...

MORRIS: Sure.

COLMES: ... so we see a movement in that direction on the Republican side.

MORRIS: When I first thought about this primary earlier today, before the returns came in, I thought it was going to be very close between McCain and Romney. That's what the exit polls showed, 1 or 2-point win for McCain. And I thought, after I saw that, that it wouldn't make any difference, that essentially, it was just the two of them and now they'd just go on and fight again. And the point was, you eliminated Huckabee and Giuliani...

COLMES: Right.

MORRIS: ... from contention. But now I think that it's a different kind of message. I think McCain right now is the putative frontrunner, and there hasn't been a frontrunner since Rudy lost.

COLMES: Right. But is there momentum for both candidates coming out of Florida, even though the delegates don't count for the Democrats, as we know, because they got in too early, they didn't obey the DNC rules? It does count for — half the delegates count for the Republicans, but in either case, is there momentum for both Hillary Clinton and McCain because of what happened today?

MORRIS: No, no. There's momentum for Obama. The stat that I just gave you, which I think the news analysis people will focus on, really shows that Obama is closing this race up.

HANNITY: All right, Dick, stay right there.

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