Updated

This is a RUSH transcript from "The O'Reilly Factor," April 19, 2011. This copy may not be in its final form and may be updated.

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BILL O'REILLY, HOST: In the "Back of the Book" segment tonight: As we reported last night, there were some vicious counter-demonstrations against the Tea Party in Phoenix; Portland, Oregon; and Madison, Wisconsin, last weekend.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: (EXPLETIVE DELETED) the USA!

UNIDENTIFIED MALE: There he is! There is the one black guy! The token black guy!

UNIDENTIFIED MALE: You're a token! You're a house black!

SARAH PALIN, FORMER GOVERNOR OF ALASKA: Hello, Madison, Wisconsin.

UNIDENTIFIED FEMALE: You guys want your Tea Party? You know what? You can have it.

UNIDENTIFIED MALE: (EXPLETIVE DELETED).

UNIDENTIFIED FEMALE: You can take your freaking -- you can take your toxic waste with you, too, when you get the (EXPLETIVE DELETED) out of here.

UNIDENTIFIED MALE: (EXPLETIVE DELETED).

(END VIDEO CLIP)

O'REILLY: So why is the far left so angry, especially when there's a liberal president in office? Joining us now from Washington, Fox News political analyst Charles Krauthammer. See, I'm not getting this. They got the Senate, all right? Democrats control it. President Obama, obviously liberal president. The media overwhelmingly left. So why are these people so teed off?

CHARLES KRAUTHAMMER, FOX NEWS ANALYST: Because they lost the American people, and that makes it all the worse for them.

O'REILLY: They think that stuff is going to get them back?

KRAUTHAMMER: Of course not, but this is not a rational response. This is a response that comes out of envy and panic. Envy, they're looking at these people, this movement that even the mainstream media had dismissed for two years as a bunch of illiterate yahoos, you know, proletarians. Then all of a sudden two years later, the Tea Party basically are the dominant element in American politics. They helped to midwife a shellacking of the Democrats in the 2010 election. And now their main issue, the size of government debt and spending, is the dominant issue in Washington. Even the president, the liberal president has to respond to. This is shear envy.

And the panic is they don't see a way to recover. They had thought -- let me just give you one example. They had thought that with the ferment in Washington, when Scott Walker tried to get through the budget reform and there were all these demonstrations, the unions were out there, they occupied the state house, they thought that it was the beginning of a countermovement. This was now going to be the left getting its revenge and spreading in the grass roots.

Remember your friend, Richard Trumka, the AFL-CIO guy who thanked the Tea Party and Walker for uniting the left and giving them this energy? There is no energy, even in Wisconsin, where there was a surrogate race over this issue, the race for the Supreme Court in Wisconsin. The left lost, even after all the union energy and the money and the pouring in of all that effort. They are on the losing end, and that's why they are so vitriolic. All they can do is to hurl insults and to shout.

O'REILLY: OK, but, you know, when you're in a war, a culture war -- I wrote a book on this, "Culture Warrior" -- you want to win the culture war. All right. Now, you assume these people, if they're going to invest the time and energy to go out and protest and try to get people on their team, that they would have some kind of a coherent strategy. But the viciousness, the viciousness. And you know, it's interesting that the Tea Party, we haven't seen all that. We see a lot of, you know, strong beliefs and all, but they're not screaming and -- generally speaking -- all of this kind of stuff. Now the media underreported these demonstrations. We broke it last night. I didn't see it any place else, and I don't think you did. But it doesn't seem to be a strategy on the far left, other than hurt people with whom we disagree. That's the strategy. Hurt them.

KRAUTHAMMER: Well, imagine how frustrating it is. Exactly. If you were on the far left, your guys won in this tremendous sweep in 2008. You win the House. You win the Senate. You win the presidency. You're on a roll. Two years later, it's a shambles. It's a shellacking.

Now, you've got the rational left and the irrational left. The rational left is the president. What's he doing? He's not shouting and screaming. He is now repositioning himself, trying to look like a centrist, trying to make the Republicans, the Ryans look like extremists, so he can run and win. That's the rational left.

The irrational left are the people who are extremely unhappy with Obama because he's not radical enough on Guantanamo. He's involved in a war in Afghanistan. He's not radical enough on immigration. All this list of other issues. What do they have? They thought they had won in 2008, and they are now in retreat.

O'REILLY: So they have zero. So they're out there and they're teed off.

KRAUTHAMMER: They have zero. Where are they going to go?

O'REILLY: I think it's disgraceful. I thought those things were just absolutely disgraceful. Charles, thanks very much.

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