Updated

This is a rush transcript from "The Five," January 4, 2016. This copy may not be in its final form and may be updated.

GREG GUTFELD, CO-HOST: Hello, I'm Greg Gutfeld with Kimberly Guilfoyle, Juan Williams, Eric Bolling and a silly straw is her waterslide, DP -- "The Five."

Bill Clinton stumped for his wife in New Hampshire with a group of young women behind him. They're safer there. Did you know that soon it will be 45 years ago, in a couple of months, when they met and fell in love?

(BEGIN VIDEO CLIP)

FORMER PRESIDENT BILL CLINTON: It will soon be 45 years ago in a couple of months when we met. One night, we fell in love. I thought she was the most amazing person because unlike now where more than half of the law students in America are women, then they were a distinct minority. And there she was in a Yale Law School, she could have written her ticket to go anywhere she wanted. All she was really interested in was providing legal services to poor people.

I valued even more a trip she took to South Carolina to see why so many African-American children were being held in adult prisons. It's hard to remember 40 years ago what things were like. She hadn't been elected to anything. But everything she touched she made better.

(END VIDEO CLIP)

GUTFELD: Everything she touched she made better.

He's great at this stuff. He's like that congenial professor who explains the Big Bang while unzipping his pants. But it's easy for liberals. If your goal is to expand government, then each expansion becomes a trophy that small government righties can never claim. He really is Santa Claus, red nose and all. Sadly for conservatism, our activism is always local. It's in our living rooms. For liberals it's invasive, entering our living rooms, too. And so with Bill, the Republicans face two foes, not just one. But that's Hillary's problem also. For once he leaves the stage then what do you have? Hillary. His charm reminds you it's not him, it's her who's running. He's too much of a good thing, reminding us she might be a bad thing. A minute with Hill erases an hour with Bill. Once she speaks, you're reminded she was a lousy secretary of state, leaving us in turmoil. She blamed videos, contradicted victims' families, dismissed national security concerns. And remember that Russian reset button? Neither does Putin.

So she'll paint Republicans as lady haters. That's fine. Every time she talks about women, just remind her how she treated the powerless ones targeted by her better half. Then focus on Hill's incompetence, as you address the concerns of anxious nation. Don't play the Bill card, play the Hill card. It's an ace, and it beats that joker.

I have to admit, though, Dana. I thought that Bill did a great job. I mean, he makes her almost seems human.

DANA PERINO, CO-HOST: He is a great asset for her.

GUTFELD: Yes.

PERINO: He did -- he probably looks better than he has in a long time. He looks rested. He looks, you know, more well-fed.

GUTFELD: Yes.

PERINO: Before, remember he was getting so thin.

GUTFELD: Well, he's a vegetarian now.

PERINO: Before. Yes, he does because he has been taking very good care of his health. I have a feeling that the reason that the Hillary campaign decide they needed to deploy him in New Hampshire is that they think they have got some trouble there. Bernie Sanders is up on the up-swing there, the RealClearPolitics average is has him at 49 to her 45, and I don't know if anybody saw, but his fundraising numbers this past quarter were really good. So I think that they wanted to bring Bill Clinton out because democrats who adore Bill Clinton would walk on hot coals for him and they're gonna have to use him a lot in a general elections. It might be little early to be using him in New Hampshire, but I think they feel like they must do so.

GUTFELD: That's a sign. Eric, do you agree with me that when he comes out, it just provides maybe a contrast to the person?

ERIC BOLLING, CO-HOST: That's a grand. And I never thought of that I watched Bill also and thought he's doing very well, speaking very well. If you also watch him afterwards, the reporters grabbed him.

GUTFELD: Yeah.

BOLLING: On the side. And they asked him about this whole big controversy with Trump and whatnot. I'm telling you, he just fumbled those. He went from a very eloquent, articulate man and commanding the stage, and then when you start to ask him some questions, it kind of falls apart. So I -- so it fell apart for me there, but you're right. You juxtapose Bill Clinton with Hillary Clinton, no comparison. You can't have Bill back, though.

GUTFELD: Yeah, you can't have Bill back. Let's roll back -- I think we have that tape of Bill Clinton being asked about Trump.

(BEGIN VIDEO CLIP)

CECILIA VEGA, ANCHOR/SENIOR NATIONAL CORRESPONDENT: Donald Trump says your past is fair game. I've got to ask you, coming up on the trail with him, is it fair game?

B. CLINTON: The republicans have to decide who they want to nominate. I'm trying to tell now the democrats, and the country, that I think Hillary would be the best president. And, I think there's always an attempt to take the election away from the people, so I'm just going to give it to you.

(END VIDEO CLIP)

PERINO: That's a strategy.

GUTFELD: Really?

PERINO: Turn the music up really loud.

(LAUGHTER)

PERINO: During Q&A, so you can't hear him.

GUTFELD: Is that working when you are in a fight with the spouse? Just turn the music up, I can't hear you. I can't hear. Kimberly, will people vote for Hillary because her husband is so likeable?

KIMBERLY GUILFOYLE, CO-HOST: Sure.

GUTFELD: Yeah.

GUILFOYLE: Partly. But you're going to have to be a diehard democrat, and you're gonna want, no matter what, to make perhaps, preserve the legacy of Barack Obama. Keep a democrat in the White House because it's not going to be because of enthusiasm for Hillary's candidacy, it's because you want to see another win with a D in the column. That's it there. He's definitely capable of generating a lot of enthusiasm. He's an excellent campaigner. He's very good on the stump. I'm, you know, worked with him in campaigns when he's been helpful, too, you know, when governor was running for mayor. So, you can use --

GUTFELD: He just likes you a lot.

GUILFOYLE: Well, he did show up quite often.

(LAUGHTER)

GUTFELD: Yes, sometimes when your husband wasn't there.

GUILFOYLE: He always asks, "Hey, so how is your wife?"

(LAUGHTER)

GUILFOYLE: But the point was he showed up when you needed to. He's a clutch democratic player, for sure, in terms of being a party loyalist. And if you're one of those, you're going to say, OK, let's throw it in their column versus what? Choosing a republican? I mean, that's the thing. And will it be enough to generate enthusiasm to get out and motivate the base is the point.

GUTFELD: Juan, should republicans be focusing on Bill?

JUAN WILLIAMS, CO-HOST: Yes, to some extent. Well, OK. One, Bill Clinton is really popular. I mean, Bill Clinton, I think was in nearly 70 percent approval rating, in like, '12 and just recently last year is at 59, so about 60 percent.

GUTFELD: That happens with --

WILLIAMS: With former presidents.

GUTFELD: Former president, yeah.

WILLIAMS: Right. But the thing is, let's, you know, what that song, "Let's talk about sex" because that's what we're talking about Bill Clinton.

GUILFOYLE: Oh, wow.

WILLIAMS: And that's why republicans are focused on Bill Clinton. So when Hillary Clinton raises the charge of republicans being anti-women, what does Donald Trump say? Don't do that. Be careful Hillary, because I will mention, your husband, and I'll start talking about all the women in the past. And do you know that, you know, she was interrupted at an event this past week where someone said, "Hey, what about all these women who charged about your husband?" Don't you expect -- don't you respect them and alike? Hillary Clinton does this, "Oh you're rude." And try to shut them. So republicans for the moment are right to play this heavily. But do I think, if you're asking me, do I think that it is going to reward them, no.

GUTFELD: What --

WILLIAMS: I think most people would say this is 20, 25-years-old?

GUTFELD: I think the - if you separate the two so you don't, you don't talk about Bill, but you talk about the fact she threw all those women under the bus. If she claims to be pro-women and she's against the war on women, it's about the Juanita Broaddrick and the Captain Riley's, it's about those women. It's not about Bill it's about the fact that she basically called, you know, Monica Lewinsky.

GUILFOYLE: Paula Jones had said that.

GUTFELD: Yes.

GUILFOYLE: In an interview.

GUTFELD: Yeah.

GUILFOYLE: It is like, how can you say that she's for women? She didn't care about any of us. She calls like bimbo express that we're all to blame that we're basically predators after her husband and didn't want to accept any personal responsibility for the acts that he, you know, committed, performed, however you want to say it, I don't know.

(LAUGHTER)

WILLIAMS: Well, you said it, but I will say this. Would you blame a woman for her husband's indiscretion and bad behavior? I don't think most people feel like.

GUILFOYLE: No, the point is, don't bad-mouth other women.

PERINO: That's the point.

GUILFOYLE: She's taking the stand that she is the one, the champion on behalf of women, and children and babies.

WILLIAMS: Yeah.

GUILFOYLE: While Planned Parenthood, that's out the door. Hello? Where is your respect for the babies there.

BOLLING: She has literally said.

GUILFOYLE: Let alone the women bad-mouthing them.

BOLLING: She has said female victims have a voice. Is there a voice?

WILLIAMS: Yes.

BOLLING: Accept them, except for the ones that her husband is -- was involved with.

WILLIAMS: Well, I think she said nobody has brought charges, you know, this has been explored, and it's 25-years-old. And I say this, when she -- I guess 25-years-old.

BOLLING: Well, so her opinion is all about on how victims are treated?

(CROSSTALK)

GUTFELD: Eric, that means, the women that Bill hit on now has adult children he could hit on. It's been 25 years.

WILLIAMS: Oh.

PERINO: Not only, but one of the things.

WILLIAMS: You play rough.

PERINO: All of this.

WILLIAMS: You play very rough.

GUTFELD: I do.

PERINO: All of this said in the intro, 20 percent -- about 20 percent in the electorate was not born when the Monica Lewinsky scandal happened. So you have to go back, and like what Juanita Broaddrick. It's like, if there are young people out there watching today, they're like, who in the world is that? They never heard that name before.

GUILFOYLE: Well, Google.

PERINO: So they're like and they want to look forward, like this like this.

GUTFELD: Yeah.

PERINO: Doesn't necessarily affect them. However, I do think that what Trump did, it was like a shot across the bow, as what Juan was saying. It was like you want to bring that up, because I have plenty of ammunition in my backpack.

GUILFOYLE: It was a refresher.

(CROSSTALK)

PERINO: It was like arrows in your quiver and something.

(LAUGHTER)

GUTFELD: Then she could.

GUILFOYLE: Everybody is talking about it, aren't they? I think.

BOLLING: Can Bill change the perception of Hillary right now? I mean because her is saying that she was all about helping people who are poor with (inaudible) and minorities. I mean, she was bloodthirsty when she was first lady. She wanted Hillarycare, remember that? She was -- someone, some people would say that she was more aggressive politically than Bill was in the point.

GUTFELD: Yeah.

PERINO: Also, I think it's worth asking Bill Clinton if he thinks that Hillary Clinton actually supports the Bill Clinton presidency, because on many of those issues on trade, on the economy. We are on a different time- frame in the country.

GUILFOYLE: We are.

PERINO: And the future with technology. But she has flip-flopped on a lot of things that actually was attractive about a Bill Clinton presidency if you are a centrist.

GUTFELD: Yeah, that's the problem.

GUILFOYLE: That's a good point.

PERINO: She's a leftist.

GUTFELD: She's more attractive. But agree, speaking of -- we're talking about Hillary --

GUILFOYLE: I'm glad you think so.

GUTFELD: Yeah, he is. Let's face it. I mean, as a candidate, as a president.

(CROSSTALK)

GUTFELD: This is Hillary telling New Hampshire voters everything that republicans are against human beings.

(BEGIN VIDEO CLIP)

HILLARY CLINTON, PRESIDENTIAL CANDIDATE: If you listen to the republican candidates and you in New Hampshire, if all the chance of the burden of having said that a republican candidate.

(LAUGHTER)

H. CLINTON: They are against nearly every right we've got.

(LAUGHTER)

H. CLINTON: Human rights, civil rights, women's rights, gay rights, voter rights, worker rights, you list them.

(LAUGHTER)

H. CLINTON: And now do whatever they can to undermine them and undercut them.

(END VIDEO CLIP)

GUTFELD: She left out animal rights.

GUILFOYLE: Terrible.

(LAUGHTER)

GUILFOYLE: Right.

GUTFELD: Bacteria rights.

GUILFOYLE: Right.

GUTFELD: I don't know -- last rights.

(LAUGHTER)

GUTFELD: I don't know. Is this gonna work? Aren't -- isn't America tired of all this division and identity obsession?

GUILFOYLE: Well, she's alienating half, like half the country because her biggest threat and biggest enemy is republicans? I mean, come on, that's a real get along kind of gal, isn't it?

GUTFELD: Yeah, but I mean, I guess you can -- she can afford to lose republicans because they don't --

PERINO: But not in New Hampshire.

GUILFOYLE: Not really.

PERINO: Like I think she's a little -- if Bernie Sanders really does have this kind of momentum in New Hampshire, you would think that she might want to start drawing a contrast between her and her opponent, rather than just her and the republicans which is -- she's done for her entire political career, and she will do for them in the general election. I would be more worried about Bernie Sanders there.

WILLIAMS: Yeah, but you're only worried about New Hampshire. And I think that she's worried about the entire democratic primary map, and she's pretty secure there. So the question is how does she conduct her business? Sander has said, "Forget about the e-mails." And Sanders has said, by the way Greg, "Forget about Bill Clinton's sex life," right? So then, what do you come down to? How does she play for that?

PERINO: I think that's why it's attractive -- I think that's why he is doing better in New Hampshire, because he is saying let's not focus on those issues, let's focus on -- his vision of how to make America great again, for lack of a better phrase. And those voters in that townhall, they want to hear that. They don't want to hear just a bashing against republicans.

WILLIAMS: Right. But I think that Bernie Sanders is one who would bash Wall Street.

PERINO: Right.

WILLIAMS: In a way that Hillary cannot bash Wall Street. And if Hillary is far more aggressive on military issues than Bernie Sanders, and I don't think that plays to the general election that Kimberly was talking about, in a way that would be to her advantage.

BOLLING: It feels like she's not worried about a primary.

WILLIAMS: Well, in a way.

BOLLING: She's going. She's done.

(CROSSTALK)

WILLIAMS: Yeah, there you go.

GUTFELD: He's skipping the appetizer.

(LAUGHTER)

BOLLING: That still $11 million. I think she raised some insane amount of money.

WILLIAMS: Right.

BOLLING: She knows she's doing well. Once you get out of Iowa and New Hampshire, once you go south.

WILLIAMS: Oh, she's got it.

BOLLING: She's killing it.

WILLIAMS: Yeah.

BOLLING: She's not worried.

GUILFOYLE: But Bolling.

WILLIAMS: That's what I say.

GUILFOYLE: She had it in the bag last time. Remember 2008, and then it was like oh, boom, and then President Barack Obama like, you know.

GUTFELD: But there's no Obama.

(CROSSTALK)

GUTFELD: To do this, right?

GUILFOYLE: But she said.

GUTFELD: But Sanders is not Obama.

GUILFOYLE: But guess what? She's an enthusiasm issue. People aren't fired up about her candidacy, just like the idea of a democrat. Let's be honest.

PERINO: And also remember the polls from.

GUILFOYLE: He was in New Hampshire and Iowa -- that.

PERINO: And remember the polls from a couple months ago that had her doing poorly with women in many of the states across country, including a swing state like Colorado.

GUTFELD: Hmm, good point.

PERINO: Where there might be some skeptical women.

GUTFELD: Yeah, that is true. All right, enough of that. Stay tuned because our countdown to Iowa continues, next with Donald Trump for TV ad, and Ted Cruz's latest attack on Marco Rubio.

(COMMERCIAL BREAK)

GUILFOYLE: We've been talking about the 2016 presidential election for years. Now 2016 have finally arrived and there are only 28 days left to go until the first contest in Iowa. The latest RealClearPolitics average says Donald Trump, the way ahead of the GOP pack with 35 percent, Ted Cruz in second place, Marco Rubio in third. Trump just released his first TV ad of the race. Here it is.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENTIAL CANDIDATE: I'm Donald Trump and I approve this message.

UNIDENTIFIED MALE: The politicians can pretend it's something else, but Donald Trump calls it radical Islamic terrorism. That's why he's calling for a temporary shutdown of Muslims entering the United States, until we can figure out what's going on. He'll quickly cut the head off ISIS and take their oil. And he'll stop illegal immigration by building a wall on the southern border that Mexico will pay for.

TRUMP: We will make America great again!

(END VIDEO CLIP)

GUILFOYLE: I love it. All right, well those are some pretty affirmative statements, especially, "and Mexico will pay for it," Bolling?

BOLLING: Yes. Do a little numbers here. So in the RealClearPolitics average which everyone is using right now, you had Trump and Cruz together, you're at 54 and a half, 55 percent.

WILLIAMS: Right.

BOLLING: Throw in Ben Carson, you're at 64 percent. That's two-thirds of the electorate who want someone who is an outsider, now an establishment voter. People are waiting in line to come see Donald Trump in Biloxi 14000 in, wherever. They're waiting in line. Al the analyst out today, looking forward to 2016, now we're looked at -- it's a new year are predicting Trump will fail at some point because people aren't as motivated as they appear to be right now. They won't come out and vote. Yet, they wait three hours in line to come here and talk. I would beg to differ with them. Iowa, even if Trump doesn't win Iowa, he will do well in Iowa and New Hampshire, it turns soft. He's killing it. Look what he does in Mississippi, Alabama. He sells these crowds out. You've got to step back and say Trump and Cruz have at least done one thing right. If either one of those drop out, they're going to get the other one's support, the voters. So even if Donald Trump does for some reason say, I'm done with this, Ted Cruz is gonna step in and be the frontrunner.

GUILFOYLE: What I --

BOLLING: It's brilliant strategy these two have developed.

GUILFOYLE: Well, depending though, also, Carson in play, right? Because of Carson supporters --

(CROSSTALK)

BOLLING: And falling.

PERINO: But also Ben Carson.

(CROSSTALK)

GUILFOYLE: If he stays in the race and at a certain point he gets out, then where do those voters go, too?

(CROSSTALK)

BOLLING: Here's the point. I'm just gonna tell this one more thing. The guy who supporting, I think Jeb Bush, the guy that -- the governor from up north Sununu, says today, well if everyone -- if all the establishment -- republicans get behind on one candidate. If everyone drops out and gets behind Jeb Bush, it's still only come up with 25 or 30 percent, that's what happened. It's just so skewed this year. The analysts really have to relook at the way they're analyzing...

WILLIAMS: I think Governor Sununu supporting John Kasich, I think.

BOLLING: Oh, whoever he's supporting. He said they all --

GUILFOYLE: Rally.

BOLLING: Coalesce around one establishment candidate. It still only 30 percent.

WILLIAMS: Neither.

GUILFOYLE: OK, Dana.

PERINO: I guess I just count on one thing I was going to mention is that Ben Carson, where it was a couple weeks ago, people thought that he was maybe down for the count. He actually raised $23 million in the last quarter. And I think what some people are saying in terms that you can get huge numbers at a rally, can you, and actually turn those into actual voters? Cruz's campaign, probably from a ground -- grassroots, ground-up game. They probably could say that they have a better one than Donald Trump at this point.

(CROSSTALK)

GUILFOYLE: Have you been hearing that, how strong his ground game is?

PERINO: Yeah. You hear it from a lot of people, especially people who are on the ground. People like reporters that go to Iowa for four or five days. Travel all around the state to say you can't go anywhere without run into a Cruz staffer who is locking it down and saying, OK. Where you from? What is your address? And they had to -- that's kind of what you have to do at this point. I think the ad is interesting, that this is the first -- Donald Trump's first ad and I think the controversy surrounding it today about the video not being actually from where he said it was, on the southern border. If Hillary Clinton did something like that, or if any of the establishment candidates did something like that, you can bet that there would be a lot of criticism everywhere else about it, and there should be. Because at this point, it's just higher stakes, and I think that the response from his campaign was pretty lame. You have the spokesperson saying one thing, the campaign manager saying another thing. To me, that's sloppy. It might not matter to people who show up to a big rally, but to other voters, it kind of care about the fact that you need to be accurate in these things, it matters.

GUILFOYLE: All right now, we've got -- Greg, I want to go to this. This we have a pro-Cruz Super PAC, spending some big bucks and they have a new TV ad hitting the voters in Iowa. I want to get your reaction after this.

(BEGIN VIDEO CLIP)

MARCO RUBIO, PRESIDENTIAL CANDIDATE: Yeah, I know I have a debate, but I have to get this fantasy football thing right, OK.

UNIDENTIFIED MALE: Keep the promise is one is responsible for the content of this advertising.

(END VIDEO CLIP)

GUILFOYLE: All right, what did you think of the ad? Take me through it.

GUTFELD: Clever, but obviously unfair because he was making a joke out of a joke. So it's not -- it's kind of like, it's essentially taking something out of context. He wasn't really doing that. It was actually a joke. The other thing too is I have to correct you. That was not Trump's first ad. It was just the first ad that he paid for.

(CROSSTALK)

(LAUGHTER)

GUILFOYLE: Touch,.

(LAUGHTER)

GUILFOYLE: You to touch,.

(CROSSTALK)

PERINO: I actually think that (inaudible) ad, I have --

GUTFELD: It's pretty good.

PERINO: I think it's -- well, look, it's good up to the point where he obviously throws like a punch to the nose of Marco Rubio, that's so unfair.

(CROSSTALK)

PERINO: And this is why he has very few friends in Washington. Now he is used of that as like -- he to have as a badge of honor like nobody likes me. And I get it. There are a lot people that support him. But I think things like that, was that necessarily to say that at Marco Rubio?

WILLIAMS: Well, look --

GUILFOYLE: I thought it was a very good ad up until that a little --

WILLIAMS: This is a --

PERINO: And that was the point of the ad, though, was to hit Rubio.

WILLIAMS: We haven't even mentioned Rubio tot this table until now, and Rubio is.

GUILFOYLE: At this table.

WILLIAMS: The option at this table. Yes you got it. He is right behind Trump and Cruz. And yet, when Eric is talking, everybody is talking, they say it is Cruz and Trump, Cruz and Trump. What happens, can Cruz get votes if Carson drops out? What about Rubio? Well, right now it looks like Rubio is not plugged into the kind of anger and energy, especially on the immigration issue.

GUILFOYLE: Like it was taking enthusiasm.

WILLIAMS: Yes. And I think that all -- lots and lots of people think they don't know exactly who Rubio is giving his stance on immigration and immigration reform. So lots of people are having questions. But what strikes me about this besides the tape from Morocco that is supposed to be the U.S. southern border and the Trump ad is the idea that Jeb Bush has spent $40 million, America.

PERINO: Yup.

WILLIAMS: On ads and we don't even mention them. It's unbelievable. And of course, Rubio spent 15 million, we haven't even mentioned that.

GUILFOYLE: Well, I don't know.

(CROSSTALK)

PERINO: I think the ads don't matter as much anymore. I think that's --

WILLIAMS: That's what I think.

PERINO: Like the face -- you can see like the digital ads are having such a much bigger impact than the network ads. And I think that, you know, we're on television so we're used to seeing ads and they're dramatic and we like to see them, but I actually think somewhat like Ben Carson, who has something like 600,000 actual online donate -- people who are donating. He's been able to build it up from on his Facebook account. Pretty good numbers and it shows you could.

WILLIAMS: It's unbelievable.

PERINO: Spend your money a little bit more wisely online.

(CROSSTALK)

WILLIAMS: You have like 24/7 right now, cable news. You have the internet, you have social media, and that's all free --

PERINO: That's right.

WILLIAMS: And that's what Donald Trump has done, right?

GUILFOYLE: Yeah, but you got to use that all.

(CROSSTALK)

WILLIAMS: Yeah.

GUILFOYLE: But guess what?

WILLIAMS: Go ahead.

GUILFOYLE: Show up.

GUTFELD: Yeah, but no --

GUILFOYLE: Do an interview.

GUTFELD: But they are --

GUILFOYLE: There's nothing better than a candidate being live, and people get opportunities.

WILLIAMS: Yeah.

GUILFOYLE: You got to show up.

WILLIAMS: The last ad that's really --

GUILFOYLE: Ben Carson, live, you know, on New Year's Eve, and Carly and, yeah, and Trump. So it was like, they show up for the interview.

WILLIAMS: I think the last ad I thought it was really terrific was by a republican in Iowa, Joni Ernst. Remember that ad where she had that castrate (inaudible).

GUILFOYLE: Oh my, God, yeah.

WILLIAMS: I know that was hilarious -- that stuck in my mind.

BOLLING: Kimberly is making a very good point. On New Year's Eve, should we put it out to every single candidate, do you want to come out or said about --

GUILFOYLE: To be lied with that.

BOLLING: It can be live and talk about issues. You can talk about New Year's Eve, you can talk whatever. Or if you want to send something in, go ahead send something in. Now, three people showed up live, fine. A few handfuls sent something in. Ted Cruz did a very long thing. He told a story, he had a minute and a half, it was engaging.

WILLIAMS: Right.

(CROSSTALK)

BOLLING: Jeb, who really needs this time right now, sends in a five-second, "hey, happy new year, everyone."

GUILFOYLE: Do people lie.

BOLLING: There can be opportunities.

GUILFOYLE: Yeah.

BOLLING: You're right. There are opportunities they need to seize that.

PERINO: But you also see that -- that the whole show was built around the Trump interview, and I think that if you're a candidate you think like, if they're gonna -- what is, what chance do I have to even be able to have make an impact if the whole thing is going to be about Donald Trump?

BOLLING: Ben Carson came on for a long time. Carly Fiorina came on with her husband for a very long time. There was opportunity. Those are just like --

GUTFELD: It's like being patsy on Happy Days. I mean, it was the Trump show. Let's face it. I mean, you're being just disingenuous.

(CROSSTALK)

GUTFELD: It was the Trump show.

GUILFOYLE: It wasn't the Trump show. With all due respect, we hosted it. It was awesome, and the people who came on.

GUTFELD: I think you did a great job Kimberly. You did a great job on the Trump show.

GUILFOYLE: Very, very good. Well, I don't think it was the Trump show.

BOLLING: It wasn't it all. It was five minutes with Donald.

(CROSSTALK)

GUILFOYLE: You just see me the smaller and more mean-spirited than normal. How charming.

BOLLING: Ben Carson and Carly Fiorina probably are longer than..

GUTFELD: No, I'm just saying, if you're saying -- if you're pointing out why certain people didn't come on the show, you should ask yourself why, that's all.

(CROSSTALK)

GUILFOYLE: They were all invited and we invited Hillary Clinton, and we invited Bernie Sanders. Everybody was welcome, it was.

(CROSSTALK)

PERINO: Sanders should have done it.

GUILFOYLE: Oh my.

GUTFELD: That wasn't fun.

GUILFOYLE: Yeah.

PERINO: If Sanders have done it that would have been a huge.

GUILFOYLE: Martin O'Malley. Martin O'Malley came on.

BOLLING: Yeah.

GUILFOYLE: We invited him. Anyway, so that was it -- charming. No shooting in the (inaudible).

Ahead, he's tired or I'll shoot you back, (inaudible).

GUTFELD: Love to see that.

GUILFOYLE: He's -- or feel it. He is tired of waiting for Congress, so the president is about to go it alone again. He's signing a series of executive actions on gun control -- details, all that, coming up next.

(COMMERCIAL BREAK)

BOLLING: After 15 days in his big Hawaiian extravaganza vacation, President Obama is back for his final year in office. He says he's fired up for it. Why? Because he plans to once again bypass Congress, this time to restrict your gun rights. The president is expected to announce executive actions he'll be taking tomorrow. A short while ago he gave a preview.

(BEGIN VIDEO CLIP)

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: The good news is that these are not only recommendations that are well within my legal authority and the executive branch, but they're also ones that the overwhelming majority of the American people, including gun owners, support and believe in.

(END VIDEO CLIP)

BOLLING: Well, the president's gun agenda is drawing sharp fire from the Republican candidates.

(BEGIN VIDEO CLIP)

GOV. CHRIS CHRISTIE (R-NJ), PRESIDENTIAL CANDIDATE: This president is a petulant child. Whenever he can't get whatever he wants, because quite frankly, the American people have rejected his agenda by turning both the House and the Senate over to the Republicans, and going from 21 governors when he came into office to 31 Republican governors now, now this president wants to act as if he's a king, as if he's a dictator.

DONALD TRUMP (R), PRESIDENTIAL CANDIDATE (VIA PHONE): Pretty soon you won't be able to get guns. I mean, it's another step in the way of not getting guns.

You're supposed to be negotiating. You're supposed to cajole, get people in a room. You're supposed to deal with them. And you're supposed to get people together and pass a law. He doesn't want to do that, because it's too much work.

JEB BUSH (R), PRESIDENTIAL CANDIDATE: His first impulse always is to take rights away from law-abiding citizens, and it's wrong. And to use executive powers he doesn't have is a pattern that is quite dangerous. It's not a surprise that people don't believe that our government is working on their behalf anymore when you have a president that recklessly uses executive authority that the Constitution doesn't provide him.

(END VIDEO CLIP)

BOLLING: All right. So let's explain a little bit, executive action overseas, executive order. He signs away with the executive order. The executive action he's talking about is some additional gun control, Greg. The good news is, even if he does do it, there are a lot of ways to pull it back. He's basically asking the Americans to vote for a Republican.

GUTFELD: It's really a beef between a commander in chief and a right-wing proxy in the NRA. It's like, imagine if a Republican president started issuing executive orders on abortion and decided on CNN or FOX News to do an hour town hall on Planned Parenthood. That's what's amazing to me, is how screwed up the priorities are, is that you have a CNN town hall on guns with the president at a time when people are really, really worried about national security.

The fact is, he's basically saying the real problems on this planet are America's fault. It's not what's going on out there. It's our guns. It's not their terror. Or else he would have had this priority reversed. It would have been an hour on national security, because isn't that when everyone wants to know about?

BOLLING: And that's a Thursday night sit-down with Anderson Cooper on CNN.

K.G., a Republican president in 2016-2017 in January can sign the equal and opposite executive action removing it.

GUILFOYLE: Right, but again, this is one that he wants to put down on his little chalkboard of "What I've done to, like, screw up America and feel good about."

So you know, this is what he's concerned about and Loretta Lynch, they played a, like, hating game on the NRA, on the Second Amendment. Meanwhile, then they don't have to focus or concentrate at all about what's going on in the Mideast. Just forget about that. Let's just go here. Let's go to climate change. They want to pivot just in the same little, like, bobblehead motions that they always do.

Forget about the rest of the things that are pressing that should be dealt with. It's about his ideology. It's about putting forward his platform and checking boxes before he's out.

BOLLING: Dana, what about it? Is this a good opportunity for the GOP to seize in the moment and say, "Hey, if you care about your guns, your rights?"

PERINO: It could be. So the bully pulpit that the president has for another year is powerful. You can set the agenda. You can at least set the tone for media coverage. Everyone is going to cover his statement tomorrow morning. Everyone is going to cover the CNN town hall that's taking place on Thursday.

And don't forget, this is just the warm-up to next Tuesday, which is the 12th, when he will give his final State of the Union address. So this is basically him foreshadowing what's to come.

It probably helped some Democrats in their districts or in tough races. OK. So it shows that they have something to run on, that they're working on this. The Republicans wouldn't do gun control. And in my district if you're like -- if you're leaning heavily Democrat, you probably like what the president is going to do.

But I also think, to your point, it also fires up Republicans to turn out to vote. And I think that, unfortunately, what Trump said was very -- what Trump said was very good. He said what you should -- the way the process works is you get people in the room and you try to persuade them and you try to pass a law.

When the president says that this is good policy, and it's something that is within his power, then my question to him is, then why did you wait until now? If you think it's so great and you think it's going to actually have an effect, why are you waiting until now?

WILLIAMS: Well, because, guess what? You've got an obstructionist Congress that will not let it happen. You've got the NRA out there, threatening all the Republican politicians so they can't act against it.

I think, though, what the president said is on target. Most Americans, including most gun owners, most Republicans, support what he plans to do.

BOLLING: That's...

WILLIAMS: That's true.

BOLLING: You included gun owners in that, right?

WILLIAMS: I did. Background checks, gun owners support thorough background checks.

BOLLING: Well, that's not -- that's one of the things he's proposing, Juan. There are other things he's proposing and he's...

WILLIAMS: Like what?

BOLLING: As Dana points out, this is how it starts. You open the door and then who knows how much floodwater.

WILLIAMS: The camels go out of the tent (ph). But you're just afraid. Because he hasn't done anything to gun owners.

BOLLING: Got to run. As you know, the Middle East is already on fire. Now a huge rift between Iran and Saudi Arabia could further destabilize the region. What it means for our fight against ISIS, the president's Iran deal, oil prices and more when "The Five" comes right back.

(COMMERCIAL BREAK)

PERINO: Saudi Arabia and Iran have been longtime rivals for influence across the Middle East, and over the weekend, their relations rapidly deteriorated, sparking concerns for an already volatile region.

It all spiraled after the Saudis executed a prominent Shia cleric on Saturday. The Shiite leaders of Iran condemned the execution. Then, protestors in Tehran set the Saudi embassy on fire. The kingdom quickly severed all diplomatic ties with Iran and today suspended all flights to and from the country.

Bahrain and Sudan have also cut relations with Tehran, and the United Arab Emirates is limiting its ties.

So Eric, I feel like this is big news. It's front page of the Wall Street Journal today. And it's sort of like the devil you know, right? So the devil you know, the problem. But it also roiled the markets today.

BOLLING: I think it roiled the markets. At one point the stock market was down almost 500 points. I don't even think this is the biggest news to come out of Iran over the weekend. It may have been Thursday or Friday, but one of those days, Iran tested a missile.

PERINO: Right.

BOLLING: And it literally landed in the sea less than a mile from a U.S. aircraft carrier.

PERINO: Right.

BOLLING: We have 1,500 seamen sitting on an aircraft carrier, watching a missile go into the ocean from Iran. If that's not provocation, nothing is.

Iran is a bad actor. When I saw that happen, I'm like, this is going to get ugly. And I thought it was going to be with us and Iran.

Now the Saudi/Iran thing. You're right, Dana. They've drawn a line between Shiite and Sunni Muslims. And boy, if that thing ever starts on fire, that's the whole Middle East up in a tinderbox.

PERINO: And can I follow on something that Eric said, Kimberly, with you?

GUILFOYLE: Yes.

PERINO: Because when Iran did that ballistic test, then sanctions are supposed to be put in place. The administration had actually called members of Congress and briefed them on the sanctions that the Treasury Department was preparing, when all of a sudden, the White House pulled it back and said they're not going to be doing the sanctions. And I think that President Obama is going to have a lot to answer for in Congress on that.

GUILFOYLE: We hope so. You know, one would hope so, because he's sitting there, smoking the peace pipe with Iran, and he couldn't be hanging out with worse people. Like, we've bent over backwards to give them everything they wanted for this, like, fake nuclear deal that really puts everybody in danger and jeopardy.

And as you can see, Iran right now, like, "Yes, we're in the driver's seat. We'll just do whatever we want. We'll test these missiles. We'll do whatever we want with our weapons." There's no sanctions that are being levied against them, so what is this? Paper tiger time?

PERINO: Exactly. Or this is what leading from behind looks like.

The White House called Saudi and said, "Oh, you might want to not do that execution," or -- they did 47 executions. The Shia cleric was just the one Shia that was executed that day. But I imagine that the White House gave a call to Saudi and on the other end, they were like, "Yes, I think we have a bad signal."

GUTFELD: Yes.

PERINO: They trust us so little.

GUTFELD: I think we're being cut off.

PERINO: Being cut off.

GUTFELD: This is like -- you know, it reminds me of when Tom Arnold and Roseanne Arnold were married, and they got in a fight and divorced. I can't find two more -- two people I like least, and it exposes this reflexive, like, picking of sides in sport -- politics. It's like, there are people on the left now that must embrace Iran, even though Iran's killed hundreds of thousands of people and backed Assad. Then the right have to somehow say, "Well, you know, the Saudis are bad, but they're not that bad, but they do behead people."

Can't we just admit that they all pretty much suck and then just build a giant dome?

WILLIAMS: I think you're right, but then what it says to me is, "Oh, good, I don't want Americans going into the Middle East and dying in the midst of this again." It's not -- I mean, this is madness.

And the second thing I would say, in response to your comment...

PERINO: Sanctions is not sending troops.

WILLIAMS: ... about -- about the United States, boy, are we ever grateful that the president made an effort to keep nuclear weapons away from the Iranians.

BOLLING: These you-know-whats just dropped a bomb, a ballistic missile less than a mile from 1,500 American soldiers, and now what are we going to do? Hold on. What are we going to do? We're going to send them a $150 billion check to do it again.

(CROSSTALK)

WILLIAMS: Everybody has the sovereign right to do what they want, but we don't want them to have a nuclear weapon.

BOLLING: A mile from an aircraft carrier?

WILLIAMS: Fine, they can do what they want...

BOLLING: I don't know what you smoked today again, but...

WILLIAMS: ... but do you think they can defeat the United States? You think -- you underestimate our military might.

BOLLING: Well, we're not doing anything about it.

WILLIAMS: I don't care about -- what I care about, I don't want the Middle East to blow us up.

BOLLING: I would stop that check today. Stop the $150 billion check.

WILLIAMS: I don't want them to have any escalation that draws the whole world to World War III.

GUILFOYLE: No, they need to be, like, permanently grounded, sent to their room, no dinner. Allowance gone. Bye, Iran.

BOLLING: They violated the deal. Stop the money.

PERINO: Why did they pull the sanctions?

WILLIAMS: Because I think the goal...

PERINO: Why did the White House all of a sudden change their minds?

WILLIAMS: Because the goal is to stop them from exercising the power to develop nukes. That is the goal.

PERINO: And we wonder why people don't trust our judgment any longer.

All right. We hope all of you had a very merry Christmas. I had the best week, and all of a sudden it was like, in an hour, we're right back to fighting. Anyway, happy new year. What we did for the holidays. We've got some pictures and some great stories to go along with them. We're going to turn this frown upside-down, next.

(COMMERCIAL BREAK)

WILLIAMS: It's the Monday after New Year's. The five of us are back together again. Time to catch up on what we did over the holidays. Miss Kimberly Guilfoyle, let's start with you.

GUILFOYLE: Yes. So the holidays were like a little worker bee which is fun; it was good. And then I loved co-hosting with Eric Bolling. Right? And we got to meet some pretty cool people. There's E.B. with -- we had Vanilla Ice. Ice, ice baby. So we couldn't miss that moment, let me tell you. And he retweeted it. Love it.

And with Jenny McCarthy, which was super fun to meet her and say hello.

And then over the holidays, I had a nice Christmas with Ronan before he went to Utah skiing. This is the next picture with his dad. So he had the best vacation ever, skiing, killing it, Ro-dog style. And then he celebrated New Year's Eve in Cancun -- who's better than Ro-dog -- with his dad and his godfather, Joe Coffey. How cute is that?

WILLIAMS: Sounds like a great New Year's. Eric, how about you?

BOLLING: Very good. Also, a couple shots from that night. It was a great night. We had an absolute blast. That was at the end of the night. There's Kat Timpf. There's Jo-no, Sean...

GUILFOYLE: Adrienne.

BOLLING: Adrienne. Kyle is there, you and I. And then over to the right of the screen, that -- she was proposed to live on air.

GUILFOYLE: Yes.

BOLLING: She didn't see it coming. But we couldn't get the 50 service member on the right. Anyway.

GUILFOYLE: We split them up already.

GUTFELD: We hate the military.

BOLLING: Just a very quick pre-show. That's us getting ready for the big event. We had just a great time.

WILLIAMS: You look marvelous, buddy.

GUILFOYLE: We got that shot. It was cool. It was in the mirror, like...

WILLIAMS: Gregory, what were you doing?

GUTFELD: It's amazing. Let's show that picture, huh?

(BEGIN VIDEO CLIP)

(GREG IN AN EMPTY APARTMENT)

(END VIDEO CLIP)

GUTFELD: That was New Year's Eve. That is me watching ten straight hours of "How to Make a Murderer," which is an interesting documentary. I am not part of either side. There's a side that says it shows the corruption of the justice system, and there's the other side that says this person is guilty. I agree that it's both. I think there is some corruption, but I think the guy is a murderer. So I just saved you ten hours.

GUILFOYLE: I'm going to watch it and confirm that.

WILLIAMS: Dana. Dana Perino, how about a holiday story?

PERINO: I had -- I think I had the best Christmas. Well, Peter and I decided we had the best Christmas of our marriage. It was really great.

We were down in South Carolina, got pictures with some friends of ours. Tracy and Jeff and Warren. There's Peter. We have the Heron Hall hats on. Peter got to go -- we got to go shooting one day. We didn't get anything.

We sat on the porch. We had great weather, like 75, 80 degrees.

WILLIAMS: I like that picture.

PERINO: Remember the big scavenger hunt I mentioned? It was really great. There were four teams. I tied with another team on points, but I won because I was two minutes faster.

A little girl I met in Estel (ph). Her name is Scarlet.

And the best picture of all was this one. On the second day out, he did really well. Jasper with a Beretta.

WILLIAMS: All right.

GUTFELD: Obama's going to hate that.

WILLIAMS: We'll hold off on gun control for Jasper.

All right. So you know what? Here's the picture. We're having grace at Christmas dinner at my house. Had the whole family, and just terrific. And then afterwards we took a bunch of grandchildren off to Jamaica.

PERINO: Wow.

WILLIAMS: And here I am swimming around. And there's Raffi and Reagan. They're sitting there, having a little fun. And there's Pepper and Wesley, being a little grumpy at times. But there's the Herald family. There's Patrick, my daughter Reagan, Eli, Wesley and Pepper, walking on the beach in Jamaica.

PERINO: That's cute.

WILLIAMS: Just a wonderful time. It's great.

GUILFOYLE: Can you adopt me? I want to go.

WILLIAMS: I'll adopt you. "One More Thing" up next.

(COMMERCIAL BREAK)

GUTFELD: "One More Thing." Dana.

PERINO: I woke up today, and there's a new Vanity Fair. Guess what? Megyn Kelly is on the cover. And it is a really great article, and let me tell you, the pictures are to die for. You learn a lot about her and about FOX, and it's just great placement and great for FOX News. Congratulations to Megyn. Hope you guys pick up a copy.

GUTFELD: Finally not just me on the cover. Eric.

BOLLING: Very quickly, again, we -- Kimberly and I did New Year's Eve.

I want to point out the NYPD. There were a million people in Times Square. One million plus people. Six thousand NYPD cops showed up, on foot, mounted cops, bomb-sniffing dogs. At one point, Kimberly and I...

GUILFOYLE: I met them all, I think.

BOLLING: ... took pictures with the cops. I want to tell you, it was orderly. It was safe.

GUILFOYLE: They were amazing.

BOLLING: We never felt insecure or in danger. Hats off to the NYPD. Great job.

GUILFOYLE: They were fantastic. Great attitude. I mean, I got so -- everyone said, "Remember how you said hug a cop today?" "You're right. OK." I was like hugging, hugging. Anyway, it was great. Thanks for the hugs.

I had a great time with Bolling. He was amazing, very professional. And the tan looked amazing, too.

One of my favorite moments of the night was the astrologer, Susan Miller. She is fantastic. I got her number, because we didn't have enough time for the full-on deal. But take a look at this clip, and you'll see why I like it.

(BEGIN VIDEO CLIP)

SUSAN MILLER, ASTROLOGY: Kimberly, you're a Pisces?

GUILFOYLE: I am a Pisces.

MILLER: And you are going to come into so much money in the second half of the year.

GUILFOYLE: I like this. Show Momma the money.

(END VIDEO CLIP)

GUILFOYLE: Oh, my God. Later I looked at, like, the freeze frame of it. You can barely see my eyes, because I'm, like, scrunching my face in so much excitement.

But then she started to say that I have a very good marriage, like, prospect, something coming up this year, and the control room said, "How is that different from any other year?" So who knows how I'm coming into it.

GUTFELD: They never give you bad news, Kimberly. They never give you bad news. Ever.

GUILFOYLE: I'll take this. I'll take this.

GUTFELD: All right. Really quick. Bad news, December 28, the death of Lemmy. If you're the fan of space rock, metal or punk, Lemmy was a legend. That's him when he was doing Ace of Spades in Motorhead. He influenced so many bands, and if you're between the ages of, like, 25 and 50, you probably have a Motorhead album somewhere. Maybe you don't remember it, but it's there somewhere.

Rest in peace, Lemmy. He was 70. That's, like, 1,000 years in rock star years.

Juan.

WILLIAMS: So it's New Year's and guess what? There are all sorts of interesting moments that are going to be celebrated by kids, as I read today in the Kids' Post. It said, No. 1, Awkward Moments Day. Everyone says something awkward and embarrassing. Celebrate it. Lost Socks Memorial Day, May 9. If you've got a lost sock in the drawer, throw it out. International Mud Day, June 29. Go play in the mud. And finally, World Smile Day. Harvey Ball, creator of the familiar smile, he created it.

GUTFELD: That's us. "Special Report," next.

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