This is a RUSH transcript from "The O'Reilly Factor," December 15, 2014. This copy may not be in its final form and may be updated.
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O'REILLY: "Personal Story Segment" tonight. Jeb bush may run for president. Speaking yesterday, the governor said this.


JEB BUSH (R), FORMER GOVERNOR OF FLORIDA: I have no clue if I would be a good candidate. I hope I would be. I think I could serve well as president, to be honest with you, but I don't know that either.


With us now, here in our New York studio, Karl Rove. You know the Bush family very well. If Governor Bush runs, and I believe he will, because he's not the kind of guy that seeks the spotlight. You know, he's not -- he doesn't like the attention that much. And to put himself out like that as he is, there must be a reason. That's -- I'm deducing like Sherlock Holmes used to do. I'm deducing.

KARL ROVE, FOX NEWS CONTRIBUTOR: Well, look, there was a reason why he did this on Sunday. Michael Pullney (ph), a longtime south Florida broadcaster was retiring. Governor Bush had a long-standing relationship with him and he asked as my final interview, I'd like to interview you. I'm not certain he exactly was planning on saying these things.

O'REILLY: But you know, he's made some noises and so has his son and things like that. So I'm saying he's running for president. Am I wrong?

ROVE: I don't know. I do -- I believe that he is tilting toward running, but looking, working for 41 and 43, I learned something a long time ago. 1977, George H.W. Bush said I'm not going to make a decision about whether or not I'm going to run until after the 1978 election. I want to do everything I can in '77 and '78 to lay the predicate but I'm not going to run until after the November 1978 election and we see if Jimmy Baker gets elected attorney general of Texas. He did not make the decision until after the 1978 election. I want to do everything I can in '77 and '78 to lay the predicate but I'm not going to run until after the November 1978 election and we see if Jimmy Baker gets elected attorney general of Texas. He did not make the decision until after the 1978 election. George W. Bush said, you can go out there, put on your propeller hat, do the things you think are necessary but I'm not going to make a decision until after the 1998 election and I'll let you know whether I'm running for president.


ROVE: So when he says there's something about these Bush men, when they say, I'm not running --

O'REILLY: But he didn't say --


ROVE: Yes. I haven't made a decision, I'm going to make a decision.

O'REILLY: He's got to raise money now, he's got to get in there. Now, if he runs, some conservatives are not going to like it because of immigration primarily and other things. I think on balance, he was a pretty good governor of Florida. Eight years. And education, he's very, very good on that. But he's off on immigration and that's going to hurt him.

ROVE: Well, it's going to be something he has going to have to deal with. And I thought it was interesting, this interview is incidentally up on the website at WPLG, it's worth watching if there's a political junkie. Because, you know, it's sort of like trying to divine what somebody is going to think and do in the future. And he does talk about how, if he runs, it will be about big ideas, about a positive vision, about focus on his ideas rather than on his competition in the primary and he will run in the primary like he's going to run in the general election because he makes an excellent point which I've long agreed with that if you try and be one thing in the primary and something else in the general election, people are watching and it undermines their confidence in your authenticity.

O'REILLY: All right. But let's, you know, you're a political pinhead. And you love all this stuff. But most people, they vote on personality. And he's different from "w" and he's different from his dad. What's the biggest difference between Jeb Bush and George W. Bush?

ROVE: Well, Jeb, both of -- there are a lot of similarities. It's hard to pick out differences. One difference would be that Jeb Bush broke away from Texas and moved to Florida. And he did so in order to create his own image, his own life. He loves Florida which is sort of odd for people who don't understand Florida, and I readily admit I don't. But then, you know, he as governor was a very involved, very as you say on education, a pioneering governor.

O'REILLY: Yes. He's not as outgoing as his brother.

ROVE: No. He's a more cerebral guy. His brother is more --

O'REILLY: Flamboyant.

ROVE: His brother has more of the common touch, he's more reserved. He speaks better Spanish than his brother. Heck of a lot better Spanish than his brother.

O'REILLY: Okay. Now, the Bush dynasty may work against Jeb Bush because people say, look, enough of the Bushes. Just like Hillary Clinton. Enough with the Clintons.

ROVE: Right.

O'REILLY: How big a factor is that going to be?

ROVE: I think it's going to be a substantial factor. I think there are going to be two issues, there are going to be two questions that he's going to have to resolve. Does he have a big and positive and optimistic agenda for the future that allows him to keep the focus on what's coming rather than focus on what's behind? And second of all, it's going to be whether or not Hillary Clinton runs for president. She is the one person who largely erases the issue of, do we want to go back and have another re- round of Bush? Because the question is, do you want to --

O'REILLY: Of course she's going to run for president. What are you doing sitting here telling me maybe --

ROVE: You know, look, look, I think it's a more complex decision than people give her credit for. I think she's likely to run in large part because they have such a thin bench and their pressure is going to be enormous for her to run.

O'REILLY: Okay. I'm going to tell you right now she's running. You know how I know? I've got friends up there in Westchester County where she lives and they have seen, they have seen with their own eyes the vans coming into her driveway with the pantsuits.

ROVE: Well, look --

O'REILLY: They have more pantsuits, pantsuits for every state, every color, every fabric, every season. All right? You don't stock in there in many pantsuits if you're not running.

ROVE: All right. Look. I had an interesting experience last week. I wrote a column, that was critical of her -- I mean, she's been a lousy candidate thus far.

O'REILLY: But you're a republican, of course, you're --

ROVE: Of course I'm going to be critical. So, I get this e-mail late at night from one of her close supporters, a guy I happen to know saying, how dare you do this? Of course, we expect you to say unpleasant things about her, just keep saying these things. So, I wrote him back the next morning and said, you know, what? I'm happy to have gotten your e-mail, you know, I hope she's surrounded by people like you who say, you had a great book tour, your book is terrific, you've got a great message, you're a fantastic candidate. I said, I want her to be surrounded by sycophants like that who don't speak the truth to her.

O'REILLY: All right. Are you going to resign from FOX and run Bush's campaign if he goes?


O'REILLY: No. That's not going to happen.

ROVE: I've been detailed of keeping track of you for the next --

O'REILLY: You're going to have to keep track of me.

ROVE: Yes, exactly.

O'REILLY: All right.

ROVE: Educate you on politics.

O'REILLY: Don't beget me if she runs business. You have to get with the pantsuit thing. That's the key to it. Karl Rove, everybody.

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