This is a partial transcript from Fox News' continuing coverage of the 2004 Democratic National Convention from July 26, 2004, that has been edited for clarity.

BRIT HUME, CO-HOST: Political conventions have often been the places where newcomers to the national scene have emerged on the big stage of a political convention to take their place among a party's stars. It's believed by many Democrats that that will be true this year of the man that they have selected to deliver their keynote address here tomorrow night. His name is Barack Obama (search), he is a candidate for the U.S. Senate in Illinois. He is now, at least, widely expected to win and he is with our Chris Wallace down on the podium — Chris.

CHRIS WALLACE, CO-HOST: Brit, as you say, Barack Obama is the man of the hour at this convention by all accounts, a rising star, as you say, the keynote speaker. At this point fortunate enough to be the Democratic candidate for the Senate in Illinois, without opposition from the Republican Party.

Senator Obama, welcome. Thanks for talking with us.

STATE SEN. BARACK OBAMA D-ILL.: Thank you so much.

WALLACE: Earlier we had conservative commentator, Bill Bennett (search), said this is a liberal party, with a liberal presidential ticket that's pretending to be moderates. Your response?

OBAMA: I think that Mr. Bennett will label anybody who disagrees with Dick Cheney (search) as a liberal. I think certainly we've got a different set of priorities than the Republican Party, at least those who are controlling the White House. I think when you look at our agenda; it's a common sense agenda that's reflective of the strengths of the American people. We don't want more government than we need, but we also think that we should be able to provide a child with the education that he or she needs.

WALLACE: Let me ask you about the Iraq war. The "Boston Globe" had a very interesting poll in the paper today that found that 95 percent of the delegates now believe that the U.S. never should have gone into Iraq in the first place. Aren't Edwards and Kerry hiding where the Democratic Party really is in Iraq?

OBAMA: I've been very clear that I think the Bush administration made a poorly conceived decision to send our troops into Iraq.

WALLACE: But Kerry isn't saying that?

OBAMA: I think all of us are unanimously about the need to look forward and figure out how do we execute a reconstruction process that's effective and makes sense for the Iraqi people. Although actually I think there has been a narrowing of differences between the administration and the Kerry campaign. Who is in the better position to execute that international thing? Bush or Kerry? I think the argument is that John Kerry can do a better job.

WALLACE: At a peace rally in 2002, you had the following to say and I want to get the quote right. You said that you were opposed to political hacks like Karl Rove, the president's political adviser, trying to distract us from various domestic issues. Senator, you really believe that's why the president got the U.S. into war, to distract us from domestic issues?

OBAMA: No. As I was very clear when I was on "Meet The Press" yesterday and somebody asked me about that quote, I think this was an ideologically driven war. I have no doubt about George Bush's sincerity with respect to what he thinks is best for the American people. I just think he's made bad judgments with respect to what's best in terms of creating a strong alliance that could help us defeat terrorism and that's a legitimate policy difference that we have. Now, I do think that there is an element of spin and political maneuvering that takes place in this White House and I don't think that's any surprise to anybody who has been watching television.

WALLACE: Senator Obama, thanks so much for talking with us. I think after hearing your speech here, people understand why you are a rising star in the Democratic Party.

Thanks for talking with us.

OBAMA: I look forward to being on the fair and balanced news station in the future. Thank you very much.

WALLACE: Thank you. Well, he touched all the bases, Brit.

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