Women voters turning their backs on President Obama?

This is a rush transcript from "Hannity," May 15, 2012. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: The White House may want to listen very closely to this next story, because a brand-new poll is indicating that female voters are turning their backs on the President in a huge way. Now, in only one month, President Obama's support among women has dropped by a staggering five points and on the other hand, Mitt Romney has increased three points, which now gives the former Massachusetts governor a 46-44 percent lead over the incumbent.

And so tonight, we're going to examine what is behind the sudden shift and could it affect -- one of the fallouts of Hillary Rosen's outrageous comments about Ann Romney or what about the president's silence when it comes to the sexist comments made by his mega-donor pal Bill Maher.

Joining us now for this debate, Fox News contributor Tamara Holder and from The Daily Caller Michelle Fields is back with us. All right.

You got your -- I gave you this t-shirt. What did you do -- wait a minute. You've got holes in the middle, on the side. It is not a v-neck.

TAMARA HOLDER, FOX NEWS CONTRIBUTOR: OK. Well, first of all --

HANNITY: Look at this. Hold out the sleeves and show the holes on the sleeves. What did you do to it?

HOLDER: OK. First of all -- it was in a Bush war. It's been, you know, 10 years of war zone. And I needed to cut it out to have it say, let your heart be troubled, not troubled. Because I'm a liberal, my heart is totally troubled --

HANNITY: Because your guy's about to lose.

HOLDER: Absolutely not.

HANNITY: All right. So, my heart's not troubled because I see Obama being a one-term president, building habitat for humanity homes.

HOLDER: Right. Which makes you on hallucinogens or something. I would really like to know what medication you take, especially when I move here to New York because you are in some land of like milk and honey.

HANNITY: Listen, they are called the polls, how is it that the president, all with this big war on women and now he is down two points? You know, now Mitt Romney's up by 10 points among independents. Now in every major poll that's come out, Mitt Romney's winning -- how did that happen so fast?

HOLDER: What is your obsession with women, if it's Sandra Fluke, if it's Michelle Obama -- the conservatives are obsessed with women. And I think it's because they know that women are an important -- are vital --

HANNITY: And the president is now losing to women. Why, Michelle?

MICHELLE FIELDS, THE DAILY CALLER: Look, all this fake outrage about contraception can't hide the fact that women really want is a better economy. What women want is a president who will reduce the regulatory burden on entrepreneurs so that they can expand existing businesses, create more businesses and put Americans back to work.

HOLDER: Really. And that's what President Obama has already done. He has done that.

HANNITY: Excuse me. We have a net loss of jobs. He's going to be the first president in modern history to have fewer people working than when he took office. Fewer people. The deficit $5 trillion in four years --

HOLDER: OK, you're obsessed with one number with the deficit, what about the tax --

(CROSSTALK)

HANNITY: Five trillion dollars. That's a big number, Tamara.

HOLDER: Wait! Let me ask you -- we are talking about women here. What about --

HANNITY: Women and the deficit, we can walk and chew gum.

HOLDER: OK. Well, let's talk about Mitt Romney, the guy you want to be president, who was originally pro-choice. And then when he decided to run for office, now he's pro-life.

HANNITY: OK. So, President Obama was pro-gay marriage, then he switched, then he flipped and then he flopped and then he was neutral, now he's back.

HOLDER: OK. But we're talking about the guy you want to be president.

HANNITY: No, I understand.

HOLDER: Who was originally pro-choice.

FIELDS: You can't talk about flip-flop. Look at what just happened with Obama. You can't talk about flip-flop.

HOLDER: We're talking about the guy you want. You want a guy who can't admit to his wonderful, you know, he is the godfather of ObamaCare. And now he won't even talk about it. He didn't bring jobs to Massachusetts. He wants to beat up Obama about it.

HANNITY: Wait a minute. Hang on a second. Here's the problem with, you know, all the polls are showing that you are wrong. Here's the problem that I think Tamara has. Is the president now has a record. His record has failed, miserably. She doesn't want to talk about the $5 trillion in debt. She doesn't want to talk about no new net, new jobs. She wants to focus on the superfluous. This war on women seemingly has backfired according to the CBS poll.

FIELDS: Exactly, exactly. It has backfired.

HOLDER: I just want to know, if you want to attack Obama, that's fine -- a lot of people including Democrats aren't happy with him.

HANNITY: No, I don't want to attack Obama. I want a new president because I love my country. And the country can do better than not create a single job and lose a million jobs because of his socialist policies have failed.

HOLDER: Really? OK. So, Mitt Romney had, what -- 47th worst state in job creation.

HANNITY: OK, listen.

HOLDER: How is he going to bring jobs to the United States?

HANNITY: Listen.

HOLDER: He totally sucks in Massachusetts.

HANNITY: Listen. Are those are Obama talking points? Did you talk to the White House today?

HOLDER: I did.

HANNITY: So, you are reading directly from their talking points?

HOLDER: Actually, I'm not.

HANNITY: OK. But that's in their talking points, did they say you today?

HOLDER: NO, it's not. Absolutely not.

HANNITY: Tamara?

HOLDER: Why don't you call them up?

HANNITY: But they won't answer my call.

HOLDER: I bet they will.

HANNITY: All right. Here's the point. The president's going to try and divide. They had this meeting to actually instruct congressmen and women on how to inject race into the campaign. We have Al Sharpton saying, there is a war against blacks. Howard Dean saying, Republicans don't like Latinos, and then the war on women. Is any of this capable -- and of course granny over the cliff. Is any of this going on work for the Democrats? They have any chance with that strategy?

FIELDS: No. I mean, once the election starts moving forward, people are going to start focusing on the main issue. If you look at poll after poll, it's all about the economy and Obama has a disastrous record on the economy. So, he's going to try to continue to create all of these distractions, but it is not going to work.

HANNITY: All right. Here's the point. Tamara, let me just stick with those two figures on the economy. Five trillion in new debt. You can look at me. Five trillion in new debt. And here's the point. Not one net new job. We have a million fewer people working. Tell me how he has succeeded in the economy?

HOLDER: He has brought small tax breaks to women, to small business owners --

HANNITY: Where? Where?!

HOLDER: Twelve thousand.

HANNITY: Twelve thousand -- what?

HOLDER: Twelve thousand people, women.

HANNITY: Twelve thousand women.

HOLDER: Have benefitted from tax breaks.

HANNITY: Excuse me. The biggest loss in jobs since he has been president. Excuse me. Ninety percent of them are women that have lost their jobs.

HOLDER: Ninety percent?

HANNITY: Net loss in jobs. No, no, no.

HOLDER: That's Mitt Romney's statistic that was proven to be totally factually incorrect.

HANNITY: No, this is actually from the Bureau of Labor Statistics. Ninety percent of those job losses came -- women were the victims.

HOLDER: Where were those jobs though? They were government jobs. They were government jobs that were mostly short-term jobs in the first place.

HANNITY: Do you make this up as you go along? Can I see the shirt again, please? Before we go?

All right. You even cut it at the bottom. Give me the shirt.

HOLDER: I cut in the back.

HANNITY: Can I see this?

HOLDER: They're bullet holes.

HANNITY: First of all. I gave you this shirt. It's not a v- neck. Look at the back of this thing. What did do you -- you actually -- what did you do to my shirt?

HOLDER: I didn't cut the American flag because if I did that, and I would really be a communist or a socialist or whatever.

HANNITY: Well, you are a socialist.

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