Updated

This is a rush transcript from "Hannity," May 10, 2012. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: First it was Bill Maher and then it was Spike Lee, and now another top Obama fundraiser is facing scrutiny, this time over comments that she made bashing Israel. Now, Obama bundler Hala Hijazi has helped raise between $100,000 and $200,000 for President Obama's campaign, she has also made a personal donation in the past. And thanks to Breitbart.com, we are being reminded about an outrageous New York Times op-ed that was written by the San Francisco Democrat.

In this, she accused the Israelis of recklessly murdering innocent people while giving Palestinians a quote, "pass." "As God-fearing Americans, we cannot sit still and continue to be silent when our tax dollars are financing a war that is causing the death of innocent civilians and is destroying places of worship and education." Really? Well, perhaps someone should inform Vice President Biden about who he is taking money from because just this week, speaking to a crowd of conservative rabbis, well, Biden claimed this administration was, well, just about the best friend that Israel has ever had.

(BEGIN VIDEO CLIP, MAY 8)

VICE PRESIDENT JOE BIDEN: I'm proud of our record. I believe that no president since Harry Truman has done more for Israel's physical security than Barack Obama.

Every point in our administration at every juncture, we have stood up on behalf of the legitimacy of the state of Israel. And that's one of the reasons I'm so proud, I'm so proud to serve with President Barack Obama.

(END VIDEO CLIP)

HANNITY: All right. Now, if this is the case they may want to refund the hundreds of thousands of dollars that were bundled by Ms. Hijazi.

Joining me now with reaction, Fox News contributor Liz Cheney and the author of "Hopelessly Divided," Fox News contributor Doug Schoen. Welcome both of you.

All right. Liz, this is pretty simple to me. If the president is the best friend Israel had, why did he snub the prime minister at the White House, why did he do something we said, we would never do to Israel, call on them to return to the '67 borders and why would he accept money from a person that obviously takes a position that is false, number one, and against her allies' position?

LIZ CHENEY, FOX NEWS CONTRIBUTOR: Well, you know, I think that what you see here is Vice President Biden continuing his unbroken record of being flat wrong on national security and foreign policy issues. You know, for somebody who served as many years as he did in the Senate on the Foreign Relations Committee and now as vice president, I do think his record of mistakes and ignorance is pretty much unparalleled. And in this case, it seems to me, you've got to ask yourself why, given the views that this contributor has, why is she supporting Barack Obama. You know, they are not going to return the money, they, you know, will find reasons not to do that. But what is it about the president's intentions in the second term that she feels will in fact be in line with her views about what is happening in the Middle East today?

DOUG SCHOEN, DEMOCRATIC POLLSTER: Sean, I would be happy and pleased if they gave back the money from someone like Ms. Hijazi. But Obama has increased military aid to Israel by $600 million up to $3.1 billion. They've cooperated on intelligence, provided offensive and defensive weapons and indeed, the policies are the Obama administration are very close to those of the Bush administration.

HANNITY: Wait a minute. No, they are not.

SCHOEN: Yes, they are.

HANNITY: Let me tell you where they're not. Do you think George Bush would invite the Muslim Brotherhood to the White House? Would have pushed that Hosni Mubarak who kept the peace, Camp David Accords (ph) for 30 years? Would we give $1.5 billion taxpayer dollars to a terrorist group? We have two presidential candidates now that are talking about Jihad against America? And the implementation of Sharia law now in Egypt which seems likely.

SCHOEN: Well, we are talking about Egyptian policy. And I absolutely agree with you and --

HANNITY: Wait a minute. But they now declared Israel their biggest enemy and we are inviting them to the White House.

SCHOEN: And that is horrific, but we are talking about Israel and bottom-line, Bush and Obama both supporting going back to the '67 lines. Both of them supported a Palestinian state.

HANNITY: You're missing my point.

SCHOEN: No, I get your point. And I agree with your point, but it is about Egypt and Egyptian policy, I think Obama is wrong.

HANNITY: Liz, you want to jump in. Go ahead.

CHENEY: Yes. Thank you. Look, I think that it is just simply not true what Doug is saying. I think if you look at the way that Prime Minister Netanyahu was treated when he first came to Washington. If you look most recently, the extent towards the president on one day said in front of AIPAC, you know, pro-Israel audience that he has Israel's back, and then the next day, essentially walked it back and said, I didn't really mean that. But most importantly, you have to look at what is going on in Iran and I think that is the issue on which the United States and Israel should be standing shoulder to shoulder. Instead this administration repeatedly conveys the idea that they are more afraid of an Israeli strike to stop that nuclear program than they are of an Iranian nuclear program. There is no better evidence of the space between the two nations.

HANNITY: All right. Let me move on. I got another issue that I want to get to. My good friend, the great one, Mark Levin, you know, brought up the issue of announcing the intelligence issue and the fact that we had a, well, double agent if you will as it relates to this new underwear bomber case and here is Mark on his radio show the other day.

(BEGIN AUDIO CLIP)

MARK LEVIN, HOST, "THE MARK LEVIN SHOW": This administration, this executive branch throwing all this information out in the public realm where our enemies can see it. That is absolutely nuts. Senior U.S. intelligence officials. The reporter think we are idiots? Those are administration officials.

Now, find out if you can who the hell is putting this information out, weakening our National Security and potentially exposing great patriots who put their necks on the line to get this information to us, so another plane is not the blown out of the air because I smell politics!

(END VIDEO CLIP)

HANNITY: Liz, do you smell politics?

CHENEY: You know, it is really troubling. You had the chairman of the House Intelligence Committee calling for an investigation today. You know, it is hard to say exactly where this leak came from.

It is in fact the case that the Obama administration has done things like invite Hollywood directors in to share the details of the operation that got Usama bin Laden. But whoever is in office when you have a leak like this that frankly threatens the operation.

You know, the chairman of the House Intelligence Committee said this put a halt to this critically important counter terrorism operation involving this new underwear bomber who was a double agent. You have to investigate, and the Justice Department ought to be as concerned about that as they are about a whole range of other things that frankly are not nearly as important.

HANNITY: I totally agree with you and I agree with Mark. This is disgraceful and this was right in the middle of the administration spiking the football and doing their end zone dance.

SCHOEN: Again, I think politics should be out of intelligence and foreign policy. Steve Hadley said on Iran that the Bush policies and Obama policies were relatively close. He, too, said get politics out. I think with the bomber, the fact that the administration may well have played politics is wrong and the investigation is warranted.

HANNITY: Good to see you. And Liz, how is your dad doing?

CHENEY: He is doing great, Sean. Thank you for asking.

HANNITY: All right, that's good news. All the best to him from all of us and thank you both for being with us.

Content and Programming Copyright 2012 Fox News Network, LLC. ALL RIGHTS RESERVED. Copyright 2012 CQ-Roll Call, Inc. All materials herein are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of CQ-Roll Call. You may not alter or remove any trademark, copyright or other notice from copies of the content.