This is a rush transcript from "On the Record ," June 4, 2008. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, HOST: This is a "FOX News Alert." Well, it's over, or it will be soon. FOX news has learned that Senator Hillary Clinton will suspend her bid to be the president of the United States. Senator Clinton will be speaking at an event on Saturday, stating her support for Senator Obama. That means one of two men will be president of the United States, Senator Barack Obama or Senator John McCain. Senator Obama may be the nominee of a divided party, but Senator McCain is having his own problems with the Republican base.

Case in point, radio talk show host Laura Ingraham, who -- are you -- you think they have problems, the Republicans.

LAURA INGRAHAM, RADIO TALK SHOW HOST: Well, first of all, when Hillary is announcing she's suspending her campaign, she's, like, crossing her fingers (INAUDIBLE) you know, every -- every -- every appendage is crossed. I mean, yes, she's suspending it, wink, wink.

No, look, the Republicans clearly have an issue here, which is John McCain is not a great speaker, OK? Last night, I mean, I don't care who you were, you were watching Obama on the stage, whether you like him or don't like him, he has a presence.

Watch Greta's interview with Laura Ingraham

VAN SUSTEREN: He dazzles people on the stage.

INGRAHAM: Hillary has a presence.

VAN SUSTEREN: Dazzles people.

INGRAHAM: And John McCain, God bless him, is a great patriot and such an interesting person, but he gets up there and people are grabbing their remotes. I'm sorry. And he needs someone on his ticket who can speak. So where does that then take him?

Well, Mike Huckabee can connect with people, but the inside-the- Beltway types in Washington, they don't like Mike Huckabee. A lot of the people in rural America, they really do like Mike Huckabee. There's a tension there. So where does he then go, Charlie Crist? And Greta, was it you who said that he's the George Hamilton of the Republican Party?

VAN SUSTEREN: I did not say that. I did not say that.

INGRAHAM: With that permanent tan?

VAN SUSTEREN: I never said that.

INGRAHAM: First of all, it's a real tan, so don't say that.

VAN SUSTEREN: I didn't say that!


VAN SUSTEREN: I plead not guilty! I didn't say it!

INGRAHAM: So -- or you know, Tim Pawlenty from Minnesota? I mean, so there -- there are people floating out there, but nobody I think who people are really coalescing behind as a vice presidential choice, which again I think just spells some trouble for the Republicans. And last night...

VAN SUSTEREN: Well, he's got to pick somebody! He can't -- I mean, he's got to -- so he's got to pick somebody. He can't just go it alone.

INGRAHAM: No, but I think he has to pick someone who can connect with the broad base of conservatives.


INGRAHAM: Oh, I think -- I think -- you know, Mike Huckabee -- you know, I've -- I've been fairly critical of him in the past, but he does have a presence and he does connect with people. I just think the problem with McCain...

VAN SUSTEREN: What's wrong with Romney?

INGRAHAM: ... Is that he...

VAN SUSTEREN: Because...


INGRAHAM: Of course. We didn't mention Mitt Romney.

VAN SUSTEREN: Governor Romney -- see, I think that -- I mean, look, people say that Senator McCain is great on national security but that his - - that he may not be as great on the economy. Everyone -- everyone believes that Governor Romney is a wizard (ph) when it comes to the economy because he's been successful. And he might deliver Michigan because he's a hometown boy.

INGRAHAM: Oh, I think Romney would be, you know, an excellent choice for McCain. There's no doubt about it. I think what conservatives are looking for is McCain to say, OK, it's OK to be a conservative in this country, and I am actually going to listen to what you have to say because whether it's on ANWR or cap-and-trade disaster, in the mind of conservatives...

VAN SUSTEREN: All right, but...

INGRAHAM: ... Or these other issues -- they're ticked off, Greta. They still are mad.

VAN SUSTEREN: I understand that, but why not...

INGRAHAM: And they want -- they want something here, and whether it's Huckabee or, you know, Romney -- I was a Romney person.


INGRAHAM: It's got to be something substantial.

VAN SUSTEREN: All right. So the real conservative -- they're not wild about McCain. Is there some candidate where he could sort of just -- are the numbers low enough on real conservatives so he can peel off enough Democrats and get the independents so that he can forget about that?

INGRAHAM: Are you saying that he needs to pick Hillary, Greta?

VAN SUSTEREN: No, I'm not saying...


INGRAHAM: I think you are saying that right now.

VAN SUSTEREN: I mean -- I mean, how -- how -- how big is this conservative base that he has trouble with?


INGRAHAM: You know, it's about 30 percent of the Republican Party, at least.

VAN SUSTEREN: Which is how many?

INGRAHAM: I don't know how many that is. That's a lot. I mean...


INGRAHAM: I was an English/Russian major, OK? What does that get me?



VAN SUSTEREN: It gets you on talk radio...


VAN SUSTEREN: ... And TV. And TV. That's where we both ended up. All right. But is it -- I mean, is it possible that he can look for the independents and the unhappy Democrats?

INGRAHAM: Well, I think he will. He will get some of those disgruntled...

VAN SUSTEREN: So who -- who...

INGRAHAM: ... Feminists. But...


INGRAHAM: How many disgruntled feminists does it take to screw in a lightbulb? I mean -- I mean, how many are there out there? Are there that many? I guess there are.

VAN SUSTEREN: I wasn't suggesting just the 18 million votes she got. I was also thinking about the independents who can't decide which way to go. There's a number there, too.

INGRAHAM: Well, I think there's a lot of time here. Barack Obama had his moment last night, and he's going to have a lot more moments like that. But I think over the next couple of months, Greta, who knows what else is out there. Obama is going to meet a number of tests, OK.


VAN SUSTEREN: Well, let's assume -- let's assume that everything's out there, and let's assume...

INGRAHAM: Oh, come on!

VAN SUSTEREN: ... And let's assume that these two men...

INGRAHAM: Everything's not out there.

VAN SUSTEREN: All right. Well, but I mean, let's (INAUDIBLE) if it's these two men. It's Obama and McCain. Who -- you know, who does McCain choose? I mean, is -- can he -- can he afford to not satisfy the far right and hope to pick up independents...


VAN SUSTEREN: ... And disgruntled Democrats?

INGRAHAM: I think he needs to do something for conservatives. I've been saying this for...

VAN SUSTEREN: Well, like what?

VAN SUSTEREN: ... You knew, since I'm blue in the face -- oh, it's either going to be a Romney or a Huckabee, one of the two.


VAN SUSTEREN: I thought the conservatives -- I thought the conservatives were nasty towards Romney.

INGRAHAM: Well, no, I think -- I think, in the end, a lot of conservatives ended up coalescing behind him. I don't think that people thought there was a perfect candidate. There just wasn't. I mean, it's not -- you know, is it historic to pick a Republican from Massachusetts, as it is historic to pick an African-American guy who, you know...


INGRAHAM: I'm just saying it's a different dynamic in the Republican Party. And once and for all, we're going to see whether a moderate Republican, as we've heard for all these years, can win. So we'll see whether a moderate Republican -- John McCain's running pretty much as a moderate, except on the war. Can a moderate Republican win? I think it's going to be difficult.

VAN SUSTEREN: Twenty seconds left. Let's say that Senator Obama, for whatever reason, doesn't pick Senator Clinton. Who's his best choice?

INGRAHAM: Well, I think he's got to get a Midwestern governor, and it's -- it's someone like a Strickland or an Evan Bayh. I mean, I think that -- that makes a lot of sense. He could -- you know, he could look for the wise men, the Sam Nunn type, which would also be interesting. But I think it's got to be someone who gives him a little bit of foreign policy gravitas.


INGRAHAM: Maybe, but he's historic enough. Does he really need to, you know, bean count on a vice presidential choice?

VAN SUSTEREN: If there are enough women mad -- and we really don't know the numbers. But I mean, there -- it's, like -- I get flooded with e- mails maybe because I'm the woman at FOX and primetime is that I get all -- I get all the complaining ones.


VAN SUSTEREN: But there are an awful lot of women who are furious (INAUDIBLE) flood my e-mail box. So I may have a perverse -- you know, I...


INGRAHAM: ... Have a few e-mails in there...


INGRAHAM: ... So you could be...


INGRAHAM: It could be you next.

VAN SUSTEREN: All right, Laura. That's it with you.


INGRAHAM: ... Late at night. There are all sorts of things.


VAN SUSTEREN: All right. Laura's leaving, but listen, go to Lauraingraham.com.


VAN SUSTEREN: I'll tell you why. Go to -- you got to get Laura's daily e-blast. It's -- so go to Lauraingraham.com to her Web site and sign up for her e-blast. You will not be bored. So get it. Laura's completely wild.

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