This is a rush transcript from "On the Record," January 2, 2012. This copy may not be in its final form and may be updated.
GRETA VAN SUSTEREN, FOX NEWS HOST: Right now there is almost blood on the floor in Iowa as the Republican candidates dual each other. At 7:00 p.m. tomorrow, Iowa voters kick off the nominating process. But one leader says those first votes are not just for a Republican candidate. Today, RNC Chairman Reince Priebus posted this on Facebook, "2012 is finally here, and tomorrow the fight to defeat Barack Obama officially begins with the first votes cast against him in Iowa. We are one step closer to removing him from office and elect Republican president this year." Chairman Priebus joins us. Good evening, sir.
REINCE PRIEBUS, CHAIR, REPUBLICAN NATIONAL COMMITTEE: Hey, how are you, Greta?
VAN SUSTEREN: I am very well. Thank you.
You look at this much differently than the candidates. Tomorrow you have a big picture look at this. You are head of the RNC. Tell me what is your strategy for defeating president Obama, since that is the goal in the general election. You have don't have a candidate, but tell me what the strategy is.
PRIEBUS: For one thing, there is a lot as far as strategy. You need to move and change the focus if you need to. But overall, I think this president has given us material to work with. The words that have come out of Barack Obama's mouth will be used against him. It is a standard that Barack Obama set for himself.
And if we just hold Obama standard he put out there himself when it comes to the economy, when it comes to the jobs, when it comes to the promises that he made to the Iowa voters. Four years ago he promised the voters in Iowa and this country a fairy tale. So tomorrow morning what we'll do all the time, we will stalk the president everywhere he goes. His words come out of his mouth, with videos, text messages, earned media, bought media, whatever it takes. We'll start tomorrow. We will have a video that comes out tomorrow with the speech, the words he said in Iowa, and what has developed since the words were said in Iowa for this country. Everything he promised us turned out to be not true, Greta.
VAN SUSTEREN: All right, I'm curious in the event, right now the candidates are going at Congressman Ron Paul pretty aggressively. And I don't know what is going to happen to him, but let's say hypothetically he doesn't get the nomination. I don't think it will happen. But that he get angry and runs as a third party candidate. Ross Perot had 20 percent in '92 and cost the Republican Party, George W. Bush a second term. Do you have any sort of plan to sort of keep him a little bit within the tent, because they are going after him heavily and aggressively?
PRIEBUS: I'm not concerned about that, Greta. I think that Ron Paul is a good Republican, and there is no reason why he would do anything like that. The primary race starts tomorrow. We have a road to 1,200 approximately delegates that are need for a Republican nominee for the national convention. Iowa starts tomorrow. In fact it's a nonbinding caucus. Then we go to New Hampshire and South Carolina and obviously to Nevada in February. I think this is just the start. I think we need to treat it as that. It is important. This is no longer -- go ahead. Sorry.
VAN SUSTEREN: How about money? How is your money doing against the president?
PRIEBUS: The money is doing great. At the end of November we had more cash on hand than the Democratic National Committee. And that is saying something when you have the campaigner in chief out every night raising money. It's the one thing he can do well, and that is campaign and raise money. And yet the Republican national committee has more cash in bank than the Democratic National Committee. It's remarkable.
It's because people know that this election is no longer about Republican or Democrat. This election is about the very idea of America. That's why we're here, because the very idea of America has taken the election and this president seems intent on squandering the very idea of what makes America great. We are going to be here every day to stop him and we'll beat him in 2012 and save the great country.
VAN SUSTEREN: Reince, thank you for joining us. I hope you are up at midnight for our special live show tomorrow night. Get some coffee.
PRIEBUS: I will be glued to it, Greta.
VAN SUSTEREN: Thank you. Tell all of your friends. Not a lot of people are up at midnight.
PRIEBUS: We'll turn on multiple TVs for you.
VAN SUSTEREN: I appreciate that.