This is a rush transcript from "Hannity," August 15, 2012. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: And it's time for our next installment of "The Real Obama." Now tonight, ever since Governor Romney tapped Congressman Ryan to be his running mate, the president and all of his liberal friends have been trying to paint the pair as radicals. Now, here are just a few examples to prove my point.


REP. DEBBIE WASSERMAN SCHULTZ, D-FLA., DNC CHAIR: As a member of the Budget Committee myself, I've really had a front-row seat to witness the architect of the Romney-Ryan budget, Paul Ryan, embrace extremism.

Paul Ryan has embraced an extremist proposal.

DAVID AXELROD, OBAMA SENIOR CAMPAIGN ADVISER: I really didn't think that Governor Romney would go so far to satisfy the most strident voices in his party that he would pick, someone who is so demonstrably a right-wing ideologue.


HANNITY: All right. But here's our question for you tonight. Who are the real radicals in this race? Is it the ticket that has the courage to propose bold ideas getting us back on track and creating jobs? No, that's radical?

Well, what is radical is a president who blames all of his problems on somebody or something else and also makes promises that he cannot deliver on or keep.

Now, remember when Obama promised the unemployment rate, we drop below eight percent? Well, the numbers don't lie, Mr. President. The unemployment rate sits at 8.3 percent. And let's not forget, it was Obama who called President Bush irresponsible and unpatriotic for increasing our national debt. But it is his administration that added almost $6 trillion to the deficit. That's $6 trillion in new Obama debt.

Now, this president has no plan or vision, just a bunch of empty promises that the American people are not buying anymore. Hence the campaign we have, dirty tactics.

Joining me with reaction, Fox News contributor, nationally syndicated radio talk show host Leslie Marshall. The co-host of "The Five," Kimberly Guilfoyle.

You know, all of this dirt, all of this slime that is coming out at the White House is for one reason. We have fewer Americans working and we have a president that gave us $5 trillion in new debt to get here. That's what this is about, Leslie. And very few on your side have the moral courage to condemn it. Why?

LESLIE MARSHALL, RADIO TALK SHOW HOST: Well, I don't think that you need moral courage and I don't think this is condemnation. If you are going to talk about radical and you say there are no new ideas, Mitt Romney said the president doesn't have any fresh ideas, I have haven't heard fresh ideas from Mitt Romney. Mitt Romney's radical, Sean, will say anthing to get a vote.


HANNITY: Wait a minute. Repeal ObamaCare -- lower taxes.

MARSHALL: Pro-choice to pro-life?

HANNITY: Well, I'm giving you ideas. You are not listening. Energy production in the country. Eliminate health care. Bring in government spending --

MARSHALL: Not eliminate health care, replace it. With what?

HANNITY: Repeal ObamaCare, you know, let's not split hairs here. So, he is giving a plan, he has seven points that he's repeated over and over again. You don't want to hear them. But very different from the debt and the deficit this president is creating, the very thing he called Bush unpatriotic for.

KIMBERLY GUILFOYLE, CO-HOST, "THE FIVE": Well, it's ridiculous. I mean, look at his record. Whether you look at his ideology or you look at his record, both are abysmal, fail him out of the class and step him right out of the White House. That's why there is a real choice to be made here. Because his policies are anti-business, they're non-pro-growth. The most anti-business and non-pro-growth in modern times.

I mean, you look at the record here. It is absolutely a complete failure on all across all fronts. Look at the long-term unemployment. You put up the number there, 8.3 percent. How is that winning? He's the one that person that said, if he doesn't fix these numbers, then you know, put him out of office. Take him for his work, hold him accountable.

HANNITY: Here's what's bothering me, Leslie. You know, something? These are not just numbers. You know, nearly $6 trillion in new Obama debt, why don't you take a sledgehammer?


HANNITY: And steal every penny that our kids and grandkids have.

MARSHALL: He's just getting started.

HANNITY: Forty nine million Americans in poverty. You know, one in six Americans, 25 un-and under-employed. Fewer Americans working. And he wants to talk about, you know, Romney the murderer, Romney the felon, Romney this, Ryan, the radical. Who is radical here? The guy that hung out with Ayers and Wright? Who's the radical in this race?

MARSHALL: I don't think the president called, if my recollection, it was a super PAC, not the president that called Romney a murderer, which and I many other liberals condemn --

HANNITY: He called George Bush unpatriotic.

MARSHALL: That is his opinion, and he's entitled to it.

HANNITY: If I called Obama unpatriotic -- what would you say to me? You and every liberal in the country would condemn me.

MARSHALL: No, I wouldn't. It will depend on what you --

HANNITY: All your liberals friends would.

MARSHALL: Well, some of my liberal friends would but --


HANNITY: Media Matters comments of the day.

MARSHALL: For you to say blame. For you to say blame, the president -- yes, I have said, I don't like when people blame somebody else. Let's move on and accept responsibility --

HANNITY: The kiosks, the tsunami, the ATM machines.

MARSHALL: Now he's having fun.

Mitt Romney blames Obama. You are blaming the president.

HANNITY: Who do we blame?

GUILFOYLE: He's in charge.

HANNITY: He's had four years. He said he would cut the deficit --

MARSHALL: He's had four years with a Congress that has not worked together, that has a lower approval rating --


HANNITY: He had two years. Go ahead.

GUILFOYLE: Two years when he had controlled the reins, the front and the back side. And what happened? Nothing! So, whose he's going to blame? Every time that he's going to resurrect Bush to try and blame him? I mean, it's just an immature, irresponsible attitude. He's reckless with the American people's money. He has no regard for the taxpayers whatsoever. And he's just going to add more debt because he has no solution whatsoever to how to get us out --

MARSHALL: -- Sean, you have more jobs being created than were being lost and we have 6,000 visas --

HANNITY: All right. More jobs created and saved than being lost. Do we have fewer Americans working than when he took office?


HANNITY: Fewer Americans working. Hundreds of thousands fewer Americans working. He predicted the unemployment rate would be in the five percent range at this time in his presidency or it's a one-term proposition.

GUILFOYLE: Big talker, big spender!

HANNITY: He said he'd cut the deficit in half. I mean, at some point, where is the intellectual honesty on the left -- he's failed.

MARSHALL: But this isn't just about intellectual -- if we are going to be intellectually honest, let's be intellectually honest across the board. Economists have said, on both sides, five percent ain't going to happen for over two decades regardless of what party is in the White House.

HANNITY: You know, what? That doesn't take away from his promise when he ran for president, does he?

GUILFOYLE: Right. No, it doesn't. And that's the thing. But he doesn't want to be responsible. How are we supposed to even teach the youth of tomorrow and the children to be responsible and hold them accountable for their words and their actions when we've got a president who's got a complete abdication of responsibility and governance in the White House.

HANNITY: I don't know. I just --

GUILFOYLE: I am asking you. Is that a good role model?


HANNITY: Can I say something?

MARSHALL: Is it his responsibility to create jobs, guys? The private sector with all their tax credits -- all their wealth.


HANNITY: Where is the respect -- where is the respect for the office of the presidency when you're going to call your opponent a murderer? And --

MARSHALL: He did not do that, Sean.

HANNITY: Excuse me. Wait a minute.

GUILFOYLE: Direct ties --


HANNITY: This super PAC, Stephanie Cutter, on the call, Obama ran a similar ad in May. She heard all the information and lied about it. They're getting --

GUILFOYLE: They're all tied in, Sean. Come on.

HANNITY: Bill Burton is tied into this.


HANNITY: Bill Maher.


MARSHALL: Sean, you had a Supreme Court justice call the president of the United States in the chamber while he was standing, speaking to the American people, a liar? You have --


HANNITY: Well, listen, listen, I will tell that you that President Obama's campaign is full of lies. They lied about Romney being a tax cheat. And he never said a word. They took money from Bill Maher. He never said a word. President civility. They lied about Mitt Romney and Bain. They lied about him and the woman that died from health care --

MARSHALL: And John Boehner when he said the president never worked a day in his life is not lying?

HANNITY: And he doesn't say -- he doesn't say -- well, he really didn't.

MARSHALL: He didn't?

HANNITY: You call ACORN working? I mean the biggest deal this guy has done is Tony Rezko.

MARSHALL: Sean, I call being a state senator --


HANNITY: The Rezko. The convicted felon.

MARSHALL: I call being a federal senator, I call being a president of the United States, I call being an attorney, working. Yes. Those are -- that's --

HANNITY: Working for ACORN.

GUILFOYLE: You know --

HANNITY: The community organizer.

GUILFOYLE: It hardly qualifies as a job qualifications, so you know what? We got what we put in, so to speak.

HANNITY: All right. You know what? I'm fed up, because the American people that are unemployed, in poverty, out of work, deserve better.

MARSHALL: And if -- you know --

HANNITY: They deserve better than this.

MARSHALL: If America is so fed up with the economy --

HANNITY: That's right.

MARSHALL: Let's be honest.

HANNITY: All right. We got to go.

MARSHALL: Why doesn't Mitt Romney have a 12-point lead over President Obama?

HANNITY: Well, actually let's see what happens. We've got a few -- 83 days to go.

MARSHALL: You got a little bit time.

GUILFOYLE: Do we have money on in November?


HANNITY: To fight with you and Beckel. Wow.

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