This is a rush transcript from "On the Record," January 26, 2015. This copy may not be in its final form and may be updated.
GRETA VAN SUSTEREN, FOX NEWS HOST: Right now, Donald Trump. You just heard him he went to Iowa. He ripped President Obama and blasted more than one potential GOP presidential candidate.
And Donald Trump joins us. Good evening, Donald.
DONALD TRUMP, CEO, TRUMP GROUP (VIA PHONE): Hello, Greta.
VAN SUSTEREN: Well, two big verbal punches, one to Governor Romney and one to Governor Bush. And to Governor Romney, you said he is not a closer.
TRUMP: He is not a closer. He was not able to close the deal. He should have been able to. We had a president that was doing terribly, as bad as you are going to do, and he should have won. And many Republicans would have won. And he was not able to close the deal. And certainly, the Republicans cannot be so stupid as to give him a second crack because honestly he choked. He wasn't able to get it done. He should have been able to get it done. There is no excuse for it. And you cannot give that person a second chance, unfortunately.
VAN SUSTEREN: All right. Governor Bush, you criticized him and said we don't need another Bush. In all fairness, he should not get extra credit for being Bush but he should also not lose some credit for being a Bush. He should be measured by himself.
TRUMP: It's a huge negative. The Bush name is not exactly hot right now. I think it's a very, very big negative. He is very weak on immigration. He is for Common Core, which, for is a Republican, I can tell, it is not a positive thing. I think he wouldn't get elected. I don't think he would beat Hillary or whoever it may be.
VAN SUSTEREN: All right. You describe President Obama as either grossly incompetent or has a completely different agenda than you want to hear about. What do you mean by a completely different agenda? What's he got that we don't want to hear about?
TRUMP: Well, he wants to change us around to a different system than what we are supposed to be in this country. He wants to go very different route. And I said that very strongly. And I got, as you know, more standing ovations by far than anybody else, and that was one of them.
TRUMP: He is either grossly incompetent or he wants to go in a different situation. He wants to give away the free enterprise system. He wants to have a system that does not mesh well with what we are about, and certainly what the Republicans are all about.
VAN SUSTEREN: Are you saying he is anti-capitalism? Is that sort of code for that?
TRUMP: Socialism and anti-capitalism and lots of other things, yes.
VAN SUSTEREN: All right. And you also said in an interview to "Breitbart," "I can make America great again." And you also said that you're seriously considering about running. What are the odds you're running?
TRUMP: I am very, very seriously considering it. I could make America great again. We have tremendous potential. We're not using it. Politicians are all talk, no action. I have been watching them for years. I was doing well last anytime. I could have done something. In a way, I have a regret. I did what I had to do when I backed Mitt and Mitt let us down and that was very unfortunate. But I can tell you this. We have tremendous potential as a country. We don't use it. We are falling behind. China is now the one -- the number-one economic engine, economic country, which is unthinkable if you go back 10 years. Unthinkable that a thing like that could happen. And, again, we have the ability in this country to truly be a great one again. Right now, we are falling so far behind.
VAN SUSTEREN: Donald, how you can walk away from your businesses? And I looked at the numbers from Miss Universe last night. I know how "The Apprentice" is doing. Could you really walk away from all of that to run for the presidency?
TRUMP: I would be willing to do it. "The Apprentice" is doing fantastically well. Miss Universe, last night, is doing -- you saw the Nielsen ratings. They were through the roof. And all of that. But obviously, the country is far more important. And I can do things that other people can't do. I can do things that the other Republicans candidate and, frankly, the Democratic candidates can't do. One of the things we have to do is stop with this tremendous flow of people just walking right into the country. We don't know who they are, where they come from. They just walk right across our southern border. And who builds a better wall than Donald Trump? I build the best buildings.
Walls are easy. And believe me, I would build a wall that is not penetrable. That would be a wall that they are not going to be stepping over. And we have to do that. We have to stop this influx because it's killing our country.
VAN SUSTEREN: Donald, thank you. And I hope you come back. And I hope you come here when you make up your mind whether you are going to run or not.
Thank you, Donald.
TRUMP: Thank you very much.