Transcript of Tim Punke on Fox News Channel on July 18, 2010

HOST: so is it unwise for joe biden to claim that it should have been bigger and is it kind of silly to claim that 3.5 million jobs were created or saved when i checked with the bureau of labor statistics and they say 2 million jobs have been lost?

TIM PUNKE:  first, thanks for having us today. to answer the question, you have to look at a fundamental difference between democrats and republicans. what i think republicans would say, on the stimulus it shouldn't have happened and it's not working. in january 2009 last month of the bush administration, this economy lost 779,000 jobs. let's fast forward, 2010, we gained 600,000 private sector jobs. first quarter of this year, gdp increased.

SCOTT STANZEL: lost 2.4 million jobs actually.

PUNKE:  we are in lot better shape than the last administration and the trend is in the right direction. i think democrats look at this. they say look, the numbers are very compelling and continuation of the policies that democrats put in place. tax cuts for small businesses.

HOST: did the president promise that if you pass the stimulus bill unemployment will not get greater than 8%. what is it, 10% now. didn't he say that?

PUNKE:  i think everybody looks at those numbers and would like the numbers to be better. you have to look at the trend line and where we were in the last administration versus where we are now.

HOST: you make a have had v good point. scott, let me ask you about that. let's put up the next poll. most americans agree with tim. they think republicans are at fault for the economic mess. 41% say republican policies, not democratic policies. guys are to blame for this, aren't you?

STANZEL:  i think it's interesting to watch what vice president biden says and it's a wonder to me if he believes his own rhetoric. at the time the stimulus was passed they joined a 20 seat majority in the senate and about 75 seat in the house of representatives. if they wanted a bigger package they could have jammed that through but been uncomfortable.

HOST:  but you are to blame, aren't you?

STANZEL:  i think we have challenges at the end of 2008 but tim cited statistics the average monthly unemployment was 35.3%. when president bush left office it was 7.78%. it has gone up in the last 18 months. so they look to blame the predecessors but they have not offered plans.

HOST: what is that. the fact that most americans think you guys are to blame. still didn't answer the question by the way.

STANZEL:  i think americans understand that democrats are in control of the house, the senate and the white house and they are uncomfortable with the spending policies of this administration that have quadrupled the annual deficits.

HOST: more voters than not, i want to put up one more poll. more voters than not say they tend to send a message to the white house this november with their vote and the message is, i don't like what barack obama is doing. so how bad is it going to be for you guys?

PUNKE:  listen, i think it's going to be bad for incumbents. the reality is there is more democrat incumbents than republicans. if you look at some of those same polls, while the numbers are bad across the board, very worse is congressional republicans. i'm not sure this is across the board incumbents is going to tralate into democrats. i think joe biden is right on that point. i think democrats are going to shock everyone in november.

STANZEL:  you know if you look at the average polls of likely voters, republicans have about 15-point advantage, about 56-41. i think it will be a good year for republicans and i think robert gibbs committed a little truth when he said democrats will likely lose the house. i think the senate is in play, as well. competitive races even like in the state of washington.

HOST: it's not a good thing to tell the truth in washington sometimes. was that kind of a bad move?

PUNKE:  i'm sorry was --.

HOST: when robert gibbs told the truth and said republicans may gain control of the house?

PUNKE:  what i think he is saying, listen, you've had the last two elections where democrats have swept. reality is there a limited number of competitive seats in the house and most of the seats are held by democrats. if you look where the playing field is, playing field is live for democrats in office. so democrats have more challenges than republicans do but i think democrats feel comfortable and the direction of the economy and i think they will do fine in november.

HOST: thanks for being with us. good to see you.