Updated

This is a RUSH transcript from "The O'Reilly Factor," June 2, 2010. This copy may not be in its final form and may be updated.

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BILL O'REILLY, HOST: In the "Miller Time" segment tonight: Dennis is worked up about three things, so let's get right to the D-man, who joins us from Los Angeles.

All right. Oil spill, and you know, where you live off the coast of Santa Barbara, you've got the big oil derricks out there going up and down and this and that. So what's your take on this whole deal?

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DENNIS MILLER, FOX NEWS CONTRIBUTOR: Well, I find NIMBY-ism unbecoming, so I'm glad the oil well's there. We've got to get power from somewhere, and they light them up at Christmas so that it looks nice, so it's fine with me.

I think — I think what this comes down to is President Barack Obama seems to have a sign on his desk that says, "The buck starts here." And this is turning into a Benny Hill sketch, Bill, and I don't understand your reticence. I think you disparage him in an odd way when, for the first time in the history — and what have we had 44 presidents — he is going to be the one who doesn't get blamed for everything. Every president gets blamed for everything.

O'REILLY: I'm trying to be fair here. You know me.

MILLER: I guess, I guess. But it looks like you're contorting yourself, Billy. I don't think any of these...

O'REILLY: I'm not contorting. I'm not contorting.

MILLER: All right, fine. I'm just telling you my observation is presidents get blamed for stuff. And if this goes through August or Christmas, I bet you there will be a day somewhere in there where you'll start to get bugged by him a little.

O'REILLY: Listen, I think President Obama on the oil spill is blameless for the spill. He didn't cause it, and he can't plug it.

MILLER: Yes, but...

O'REILLY: He was too slow.

MILLER: I don't think I said that. Bill, Bill, wait, I have to stop. You don't think I think that Barack Obama blew the pipe up? Or...

O'REILLY: No, no, no.

MILLER: But I hear you say that to guests, that you don't think — I don't think he went down there with a razor wire and cut the pipe, or I don't think he blew it up, or I don't think he told somebody to blow it up. Certainly you don't think that's what I think.

O'REILLY: No.

MILLER: I think like any other president in history, he's going to get blamed for it eventually.

O'REILLY: But it's not exactly right to blame him, and I would rather blame him for the terrible deficit, for spending money wildly, for this crazy, illegal alien stuff, for the trials of Khalid Sheikh Mohammed in New York City. There — there — those are blame. Hey, you did it; you're a pinhead. So, you know, I'm saving my ammo...

MILLER: All right. Let me ask you this. Do you blame him for coming out and saying, "We're all over this," and then his two-prong attack seems to be, one, hiring James Cameron or enlisting his aid to, what, go down and dilute the oil spill with insipid dialogue or speech? I don't know what that is.

O'REILLY: He's going to get Leo involved.

MILLER: And then secondly, the other prong is to send Steadman Graham down, the attorney general, to organize the plankton into a class-action suit against BP.

O'REILLY: You've got to arrest everybody. You know what he did? You know what Obama did, the worst thing he did? He went down to the Louisiana coast wearing pants that looked like he should be going out to dinner in. Couldn't he just get clam diggers or something down there? I didn't get the pants.

MILLER: I mean, listen, all I'm saying is I, like most Americans, think enough of Barack Obama as a man that, like every other president in history, the buck's going to stop there. I'm sorry. And, no, once again, I don't think he blew the pipe up.

O'REILLY: I know you don't.

MILLER: I don't think you think that either.

O'REILLY: No, of course not.

MILLER: I think — I think that this is a bit botched at this point. And I think there will come a day, if this lasts through Christmas, where you will concede on one of these Wednesdays and you'll say yes, he's screwing this up.

O'REILLY: All right, maybe so. What do you think about Carville going, "We're dying down here. He's got to get down here"? What do you think about Carville? Because Carville really changed the whole dynamic as far as Obama's own party turning on him.

MILLER: I look at Carville, and I just thank God he is not my neighbor.

O'REILLY: All right. Joe Sestak.

MILLER: I'll tell you what though, Billy. If Sestak once again admits that he was offered a job, they're going to plug that hole with him. I guarantee you, Sestak. When I heard Gibbs say, "We don't believe he was offered a job on any sort of intel committee," I thought, "Man, they are about to roll you." I hope Sestak held onto the blue dress, because is he about to get flattened.

O'REILLY: Well, Sestak is basically saying that there was an offer by Bill Clinton for some kind of presidential panel. Now, nobody knows what that is, but it doesn't matter, because the law clearly states there can be no discussion about that for political reasons. We went over that last night. Now, what do you want to see with Sestak? Do you want to see a special prosecutor, something happen?

MILLER: Sestak is over. They called their big card, and then you know they were in trouble when they bring out the Clinton blotter. Clinton is where rumors go to die.

Two things: one half of the country won't believe anything bad about him; the other half of the country are not shocked when you say that Clinton was involved in this. So they called out the big trump card. That will tell you how serious they thought it was.

O'REILLY: Absolutely.

MILLER: When you bring Clinton in to soften up, you know you are in trouble.

O'REILLY: You bet, and that's an excellent point.

MILLER: They should put...

O'REILLY: I think that's an excellent point.

MILLER: They should put Sestak under oath, because I do think with his service that he's an honorable man. Now, that being said, I think he'll lie through his teeth under oath, but I at least think he'll feel guilty about it. I think Sestak will feel guilty.

O'REILLY: No, I don't. I think Joe under oath would tell the truth.

All right. Finally, Joe McGinniss moves into Sarah Palin in Wasilla, Alaska. And Palin, of course, doesn't like it. I don't think anybody would. And McGinniss says this on NBC. Go.

(BEGIN VIDEO CLIP)

JOE MCGINNISS, AUTHOR: Sarah, hysterically puts up this Facebook page with all sorts of ugly innuendo. She has pushed a button and unleashed the hounds of hell, and now they're out there slathering and barking and growling. And that's the same kind of tactic — and I'm not calling her a Nazi — but that's the same kind of tactic that the Nazi troopers used in Germany in the '30s.

(END VIDEO CLIP)

O'REILLY: OK. I know whose side you're on on this one, Miller.

MILLER: I know you are, too. He's a creep. And if a guy like that moved next to you, you'd be creeped out.

When I first saw it, I thought what is this, Patrick McGoohan talking about a goiter or something? The last time Joe McGinniss was relevant, the Bible was in galleys, OK? He's trying to get back in. This is a "hail Mary" pass to matter again. It's not going to happen, because he's more out of the loop than a blind Chicago cab driver at this point.

And you know something? When I see a guy like that immediately put it back on her and then use that caveat: "This is not to infer she's a Nazi but this is what Nazis did." If I was Todd Palin and he called me a Nazi, I'd say, "You're the Sudetenland," and I'd go next door and I'd commence to annexing.

O'REILLY: Sudetenland, of course, in Czechoslovakia, as Dennis Miller well knows, and was the run-up to World War II. So I want to send you up to see McGinniss. Will you — if we can arrange that, will you go up and talk to him?

MILLER: No. He's an old slug. He reeks of desperation. I don't want to get that stink on me.

O'REILLY: All right. Miller has said his peace, as always.

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