This is a rush transcript from "On the Record," October 6, 2014. This copy may not be in its final form and may be updated.
GRETA VAN SUSTEREN, FOX NEWS HOST: Are Americans losing confidence in President Obama? We spoke with Donald Trump.
VAN SUSTEREN: Donald, nice to see you.
DONALD TRUMP, CEO, TRUMP ORGANIZATION: Hi, Greta.
VAN SUSTEREN: All right. The former director of the CIA, former secretary of defense, Leon Panetta, has a new book coming out. He had a blistering interview today in which he was quoted as saying that the president has kind of lost his way.
TRUMP: I think he said a lot worse than that. And from what I understand, the book is worse than that. I think he indirectly said he doesn't know what he's doing and he has no confidence in him, which in all fairness, is very disloyal in once since. But at the same time, he is telling it the truth. If I'm on Obama side -- which I don't happen to be - - there is great disloyalty in that statement. But I think he was trying to, to be honest, and he probably telling the truth.
VAN SUSTEREN: Why has the president lost his way or what's the problem with his presidency?
TRUMP: There is no trust in our government. There is no trust in our decision-making aspects of government. You look at what's going with ISIS, how long has that been brewing. That didn't just happen. Now they are saying you need the boots on the ground. You need all of the -- here we go again. We have been doing it for 15 years and now we are supposed to go back again. You look at what went on with ObamaCare and what's currently going on. It's a catastrophe. Wait until you see what happens in '16 when ObamaCare really kicks in. Take a look at the website. $5 billion website that still doesn't work. Look at all the mistakes made in government. There is just no confidence. The people don't have confidence in Obama or in government.
VAN SUSTEREN: Is it the size of the government, the bureaucracy that it's just unmanageable, or is the president not doing his job?
TRUMP: It's decision-making. It's not the size, it's the decision-making.
VAN SUSTEREN: I go back to the interview with Leon Panetta. He says that he relies -- the president relies on the logic of a law professor rather having the passion of a leader. That's coming from a Democrat, someone who is a cabinet officer.
TRUMP: Well, it's a rough statement. He is very rough. I have seen excerpts from the book and what he had to say, and I was surprised that he said it. They seem to have gotten along very well while he was there. He wasn't an original Obama person, but they certainly seemed to have gotten along well.
But it's catastrophic. I mean, what he is saying really is that we have a leader that doesn't know what he is doing. Essentially, he says that and he said it loud and clear.
VAN SUSTEREN: Is it that you disagree with the president or the president makes different decisions or you think the president doesn't know what he is doing?
TRUMP: Well, I disagree with so many different things that the president has done. You look at his relationship with Israel, which is in tatters. Look at ObamaCare, which is a catastrophe. You look at just even not stopping the flights coming from West Africa. To me, that's an easy decision. There are so many things that I disagree with.
Now, I do call it a disagreement or do I say he is wrong? I say he is he totally wrong. Is he incompetent? I don't know if he is incompetent. But certainly he is wrong.
VAN SUSTEREN: Could he turn it around? Because the poll numbers show that the American people are losing confidence with him. He came in with wind behind his back. Everyone was pulling for him. All of the Democrats, of course, and all the Independents and many Republicans want to see him succeed. Maybe not all of them but many of them did.
TRUMP: I would like to see him succeed as an American.
TRUMP: I think it's hard for him to turn it around. I think --
VAN SUSTEREN: Is it impossible?
TRUMP: Nothing is impossible. Maybe something miraculous happens.
VAN SUSTEREN: Do you see any sort of interest -- does he have interest in the job like he wants to turn it around? Is he phoning it in up --
TRUMP: I have been watching him --
VAN SUSTEREN: -- against Republicans or what?
TRUMP: I have been watching him and he really looks tired. He looks disjointed from the standpoint of mentally like he just not into it. When he gave -- as an example, we had a young man whose head was cut off and he gave a news conference and he had a shirt on where he takes the jacket off and goes right out and plays golf. You wouldn't think that that is something -- that's not something -- a P.R. person says, that's not a good time for you to be playing golf. That's really bad. That was just bad. It just looks to me like he is tired of the position. I may be wrong. I hope I'm wrong. He has got two more years as president. To take all these vacations and all the fundraisers, and on our dime.
VAN SUSTEREN: I always thought when President Clinton was president, even though he certainly had his -- it was a rocky road for him in many instances, I always thought he loved the job. He loved the job. Do you have the sense that President Obama loves this job?
TRUMP: No. I don't think he likes the job at all. I think he is looking forward to being freed. I think he is looking forward to getting out of it. It just seems that he doesn't. And you are right. Bill Clinton loved what he was doing and so did others. You have to love it. You are not going to do well unless you love it. He loved it. Others love it. Some don't like it. The ones that don't like it don't do it well. I don't think he likes it and he certainly doesn't do it well.
VAN SUSTEREN: Donald, always nice to see you. Thank you.
TRUMP: Thank you.