'This Week' Transcript: Allen, Kerry and Cornyn

HUFFINGTON: Right here, we have the poster child of Bush-Cheney crony capitalism. Halliburton involved in this, and we haven't said about that. They after all were responsible for cementing the well. Here's Halliburton, after it defrauded the American taxpayer hundreds of millions of dollars --

CHENEY: Arianna, I don't know what planet you live on, but that's not --

HUFFINGTON: -- it's involved again. I'm living on this planet. You're living in a planet that is --

CHENEY: -- it's -- Arianna, what you're saying --

HUFFINGTON: -- continuing --

CHENEY: -- has no relationship to --

HUFFINGTON: It is completely --

CHENEY: No relationship to the effects --

HUFFINGTON: -- Halliburton was involved in this. How can you say it is not?

TAPPER: Well, Halliburton was cementing the pipe.

HUFFINGTON: How can you say Halliburton has no relationship?

CHENEY: Her assertion that Halliburton defrauded the U.S. government --

HUFFINGTON: It did. It did.

CHENEY: It was Bush-Cheney cronyism is the left talking point --

HUFFINGTON: It was -- hundreds of millions of dollars in Iraq.

CHENEY: Arianna, is absolutely not true. It is absolutely not true.

HUFFINGTON: OK, I'm so glad Politifact is going to be checking this. I'm so glad.

CHENEY: Good.

TAPPER: Markos, I just want to give you one more last chance to weigh in. You've been suspiciously quiet on this roundtable so far. When the American people see what's going on in the Gulf and they see that it's not being solved, and they hold the president in charge -- the current president.

MOULITSAS: I would say that that's absolutely true, and I think the reason that sort of, Obama is slipping I think like I said is that they're afraid that yet another corporation is going to take advantage of lax regulation, it's going to take advantage of a pro-business climate and basically get away with -- maybe not murder. This is not Katrina. -- But with the defiling and the destruction of the economies and the beauty and the coastline of multiple U.S. states.

And that's the fear, because they've seen it in Wall Street. They saw Wall Street get away with it, and now they're afraid that BP is going to get away with it. Because certain companies are too big to be held accountable, and that's the problem, that's what people fear.

I don't think they want a temper-tantrum from the president. They want accountability and right now, we haven't seen that yet.

CHENEY: But I think what people really fear frankly now economically, Markos, is that the president's moratorium on offshore drilling is going to compound the economic damage that's been done by this spill.

MOULITSAS: Actually, the latest polling --

CHENEY: If you look at the jobs numbers, 430,000 new jobs created last month. 400,000 of those we know were temporary Census jobs. Thirty thousand private sector jobs. It is in fact entirely likely that this moratorium on offshore drilling is going to completely wipe out those private sector jobs.

TAPPER: Let's turn to the economy as long as Liz has brought it up. The May jobs number report came out showing 431,000 jobs were created. Only 41,000 of them were in the private sector. The unemployment rate is 9.7 percent, and 46 percent of the unemployed have been jobless for 27 weeks or more. George, this is not good news.

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