Updated

This is a rush transcript from "Hannity & Colmes," October 26, 2007. This copy may not be in its final form and may be updated.

SEAN HANNITY, CO-HOST: Now, earlier this week I was one of the speakers at the Business Council of Alabama event with James Carville. Let's just say the gloves were off:

(BEGIN VIDEOTAPE)

UNIDENTIFIED MALE: Ladies and gentlemen, are you ready to rumble?

JAMES CARVILLE, DEMOCRATIC STRATEGIST: You know, Sean — it's always great to do something with him. The guy is so successful. He's got his — you know, his radio show and TV show and all this. He makes so much money, if he gets any richer, John Kerry will want to marry him.

HANNITY: I will tell you this, James Carville, because I do love your wife. I'm glad you met her. She's the best thing —like all us, you married up. The greatest thing that ever happened in his life. I'm glad you met her. And I'm especially glad that James met her before his former boss met her. All right.

CARVILLE: There is no obvious Republican front runner. This is — this is the most ornery process in democracy, is the way that U.S. Republicans pick their presidential candidates. It's like the oldest white guy they have: "OK, you take the thing."

HANNITY: This election is going to be one of the most profound in our lifetime. You've got the Carville — I love you — Hillary-vision. Like, if you're a liberal today, what do you believe? Think about this. You believe, you know, Ted — (HICCUP) — Kennedy is a hero at Chappaquiddick.

CARVILLE: If you go to the Democratic side, as we say, "mama" and Obama. Mama be doing pretty good here. And if you want a football analogy, she's the SEC, and all those Republicans are the Big Ten.

HANNITY: If you're a liberal today, you believe Hillary Clinton is a better general than General Petraeus. If you're a liberal. If you're a liberal, you believe Bill is a faithful, loving husband.

CARVILLE: When Bill Clinton left office, the United States was the — reported to be, probably was most dominant nation, vis-a-vis the rest of the world in any country since ancient Rome.

We've squandered our surplus. We've squandered our reputation. We've had Alberto Gonzales and Michael Brown. And the next president is going to have to come in like a giant shovel brigade and right this country in the right direction.

HANNITY: At the end of the day, I think the Republicans, in spite of what James says — when you have a candidate like Hillary Clinton and she has, as the Zogby poll points out today — 50 percent of the American people going into an election are saying they will not vote for her. They do not like her.

We've had Harry Reid and Nancy Pelosi. The lowest approval rating in the history of the United States Congress, according to every poll; now down to 11 percent. I'm hoping they hit single digits. I expect it will happen pretty soon.

So for all the success, you know, what James is talking about here, if they were that successful, 50 percent of the American people would like Hillary. Nancy Pelosi and Harry Reid would be doing better than 11 percent.

And, you know, for all you can say about George Bush's approval rating, that's three times the approval rating that Nancy Pelosi and Harry Reid have.

CARVILLE: She is generally acknowledged to have the most loyal, dedicated, hard-working staff that has been with her longer than anybody in Washington.

I think she's a warm, gracious, intelligent person who, if she's president of this country, will take decisions seriously, will think about things and talk to people before she commits the United States to something like a war. And I think she is a person with — oh, I forgot to mention this she's ambitious.

HANNITY: We believe as conservatives that it would be very dangerous for this country if we woke up the morning after the night before and found out that James was successful in his effort to get her elected.

And we, as conservatives, believe this final thing. That this is the single greatest best country God has ever given man and that we have been, as a country, not perfect, but overall as a country, the single greatest force for good and liberty and freedom that the world has ever seen. And that is something that we should be proud of.

God bless you. Thank you.

(APPLAUSE)

(END VIDEOTAPE)

ALAN COLMES, CO-HOST: Unless, of course, the elections will elect a Democrat the next time up.

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