This is a RUSH transcript from "The O'Reilly Factor," June 14, 2012. This copy may not be in its final form and may be updated.
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BILL O'REILLY, HOST: Continuing now with our fair and balanced "Campaign 2012" report this evening. Here now, the co-host of "THE FIVE," Democrat Bob Beckel.
Now, I'm going to ask you the same question I asked Rove. You know, I want you guys to analyze your own home team. So what is the Obama campaign doing wrong? The biggest thing?
BOB BECKEL, CO-HOST, "THE FIVE": What's the biggest problem? Is the economy. I mean, you can't -- the economy is -- it's overwhelms everything for a while.
O'REILLY: Should he be blaming Bush?
BECKEL: Yes, for one reason. And that is that in every bit of polling I've seen for the first time, you know, in all the years I've been around politics, the hangover effect, if you ask people in these targeted states, what -- who you blame for this thing, and Bush still scores fairly high.
Now, I don't think on election day that's going to be the case. And the other thing I would do if I was them is I'd get him off the air.
O'REILLY: Get who off the air?
BECKEL: Obama. There's too much exposure.
O'REILLY: All right. So you say that it's not a mistake to keep blaming President Bush --
BECKEL: For a period of time.
O'REILLY: For a period of time? That window's got to be closing. It's June.
BECKEL: Probably till Labor Day.
O'REILLY: All right. So you blame him till Labor Day and stop blaming him then?
BECKEL: Well, he's got to ease up on it a little bit.
O'REILLY: Got to ease up on it. I just think that diminishes President Obama. And I'm not saying this because I'm rooting for anybody. I'm just saying, look, if you're a big boy wearing the big, long pants, not the short pants, you don't blame somebody else. You don't say, "Look, I'm the manager of the Kansas City Royals. I've been employed for three years. We're still in last place. It's Ziggy's fault before me." You don't do that.
You say, "Look, I'm going to get us out of here. I know it's tough." You don't make excuses about that. You're a big boy.
BECKEL: If you're a big boy. Bill, you're a big boy. You wear the big pants around here.
O'REILLY: I have the big pants.
BECKEL: That's exactly right. And nobody will challenge that. Well, maybe. Listen, he doesn't do it. You get somebody else to do it.
O'REILLY: That's right. Surrogates can do it. But he looks whiney when he continues --
BECKEL: But he doesn't -- he says we inherited this, we inherited that. It's code words. Right?
O'REILLY: We've heard it 50,000 times.
What about -- what about Holder? Now Holder looks like he's in, like -- he's in deep trouble. And should they do the Jeremiah Wright on Holder and kind of toss him out the window a little bit?
BECKEL: Are you suggesting that they pushed Jeremiah Wright under the bus?
O'REILLY: Yes. I think they did. Not only put him under the bus. Then they drove the tires over his neck.
BECKEL: And beyond that, then backed up.
O'REILLY: Backed up over him and the exhaust pipe.
BECKEL: You know, you're saying about Eric Holder. It fascinates me. I listen to -- what's that dude's name, that congressman from -- Issa? Guy himself almost got indicted.
O'REILLY: The dude.
BECKEL: Yes. I've got -- I've got no interest in him at all.
O'REILLY: OK, but look, Holder is in trouble. Should they dump him?
BECKEL: No. No. Because you --
O'REILLY: Stand by him?
BECKEL: Let me tell you why. Do you think in Cocomo, Indiana, Bobby and Susie Middle America get up in the morning and say, "God, that Eric Holder"?
O'REILLY: No, you're absolutely right about that.
BECKEL: Nobody cares.
O'REILLY: It's cumulative, though. I mean, if they keep hearing little snips and snaps about national security leaks and Fast and Furious over here. You know how that waters down anybody. And then the president can't afford it.
BECKEL: I've never seen a presidential election go on the basis of a cabinet member.
O'REILLY: All right, stand by your man then?
BECKEL: Absolutely. Because these guys who are accusing him like Issa himself almost got indicted for car theft.
O'REILLY: OK. What about the president hanging around with the swells? Tonight he's over at Jessica Parker's house -- Sarah Jessica Parker's house there, raising the money; George Clooney's house and what. What about running around with those? The folks don't really like that, do they?
BECKEL: Well, I don't -- you didn't get invited?
O'REILLY: No, they don't like me over there.
BECKEL: I wasn't invited either.
O'REILLY: They don't like you. I think they like you less than they like me.
BECKEL: Well, that's a given. Because I don't get invited. You get invited down there. I don't get invited to the Christmas party.
O'REILLY: No, I don't.
BECKEL: Yes, do you.
O'REILLY: But he's hanging with the rich, rich liberal swells. That's what he's hanging with. Is that -- the folks aren't going to like that. Are they?
BECKEL: Listen, the Republicans hang around with rich Republican right-wingers and they raise money with them. Who cares?
O'REILLY: I don't see Romney with anybody. I see Romney --
BECKEL: There's a reason for that.
BECKEL: Because he's the most boring guy I've ever run across.
O'REILLY: You just made my point. That he's not hanging with the rich right-wing swells. But President Obama is now aligning himself with this kind of --
BECKEL: Now wait. Wait a minute. Romney -- Romney did 30 fundraisers last month. Thirty. And Obama did 11.
O'REILLY: What famous person attended a Romney function?
BECKEL: I have no idea, because they keep it off the record:
O'REILLY: Nobody. Nobody did. But don't you see that President Obama is trying to be a man of the people? Right? Wouldn't you say he's a man of the people? Social justice? Let's get everybody -- and then he's running into these soirees with these big fat rich people -- not fat but big rich people. I don't know if that plays.
BECKEL: I think he can get that settled in one easy deal which is to do another interview with you.
O'REILLY: I hope he does.
BECKEL: I don't think he should. You were good with him, by the way. I give you a lot of credit for that.
But listen, I don't think that matters. To the extent people think about Democrats, Hollywood and swells they're always going to think of that. Right?
Now, the one I wouldn't have is that British woman whose pictured with him on their Web page.
O'REILLY: Wintour, is that her name? Anna Wintour?
BECKEL: The one whose mink coat owns a mink coat.
O'REILLY: A lot of women own mink coats, Bob. But I think you're talking about Wintour, the fashion person.
BECKEL: Yes, that's right.
O'REILLY: That's what I'm talking about. It seems he's disconnecting from the folks that he wants to convince.
BECKEL: I certainly wouldn't -- I mean, it's one thing to go and take their money. It's another thing to highlight them on your video.
O'REILLY: Right. Bob Beckel, everybody. Catch him on "The Five." Thanks, Bob.
BECKEL: -- very much.
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