Transcript: Sens. Jim Webb, D-Va., and Jon Kyl, R-Ariz.

CHENEY: Well, Katrina, I really appreciate your concern for the Republican Party and I think you and I do live on opposite planets but I do think that it's the case that the American people, you know, when President Obama first came into office, he was asked do you agree with Vice President Cheney's advice that you ought to take a long, hard look at these policies and at the intel and what we've learned before you make changes. He said I actually do, I agree with that. Day two, he comes into office and he doesn't just change the policy but he releases to the terrorist, to the enemy the list of the techniques that we used so those techniques are now out there in the legal memos, they're out there for the terrorists to train to. Then he comes in and says, listen, we're going to prosecute potentially people who worked in the Bush administration who worked very hard to keep the nation safe. Now, in my view that's un-American. That's not something that's ever happened before in this nation.

SCHMIDT: It's Banana Republicanism is what it is.

STEPHANOPOULOS: But he's pretty much taken that off the table, the prosecution...


CHENEY: Yes, but come on, George, to even suggest it, I don't he has taken it off the table.

VANDEN HEUVEL: When is democratic accountability banana republicanism?


SCHMIDT: ... thousands of Americans murdered in Lower Manhattan and across the country by these attack, anthrax, the belief that more attacks were imminent.

The public officials in the Bush administration who worked to keep this country safe, you may disagree with the policy, but to want to do these prosecutions, to haul people before the congressional circus up here is nonsense.

And at the end of the day, at the end of the day, the president made the right decision, in my view, to stop the practice of waterboarding. There are profound issues facing this country. We ought to move forward, not look backward. There is an obsession on the left with get Bush, get Cheney, get Bush administration officials, the Democrats now run this city and they should leave it in the past.


STEPHANOPOULOS: I want to go to the politics just a little bit because Katrina talked about that National Journal Insiders Poll where 57 percent of Republicans say they don't think it's helpful.

And I know you probably believe what your father is doing is helpful, obviously. But I want to get Steve as John McCain's former campaign manager, I know a lot of your former colleagues, Republican operatives, think it's not that helpful to have a former vice president coming out this early in this way. SCHMIDT: It doesn't matter. Dick Cheney will never be on a ballot again for national office. What you've seen him be able to do, though, is to put great attention onto an issue and to impact this issue in a very marked way over the last week.

The party doesn't have a leader right now and the party is not going to have a leader until we have a nominee. And so there's a lot of voices in the party and I think he has been a voice in this country on issues since the late 1960s and he has every right to speak out.

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