'This Week' Transcript: Axelrod, McConnell and Queen Rania

AMANPOUR: But will his involvement...

AXELROD: But here's the -- here's the thing about Karl Rove and what he's doing. The insidious thing about it is they are funding negative ads all over the country against Democratic candidates paid for by major corporate special interests who don't have to disclose their participation, the oil industry, Wall Street, insurance industry.

We put a bill in the United States Congress asking one thing -- and this was a loophole that was opened by the Supreme Court earlier in this year -- we put a bill in the -- in the -- in the Congress saying, disclose who is funding these campaigns. Let the American people know who's paying for these ads. It's a very simple premise.

Your next guest, Senator McConnell, has blocked that consistently. And, you know, there's an old saying that if you -- if you want to keep things secret, you have something to hide. You want to ask Senator McConnell what it is that they are trying to hide.

AMANPOUR: But do you think you'll have an impact?

AXELROD: Absolutely. I mean, if you -- they're spending tens of millions of dollars. In some districts, they're spending more money than the candidate -- candidates themselves on negative ads from benign-sounding Americans for Prosperity, the American Crossroads Fund. No. These are front groups for special interests. These are front groups for foreign-controlled companies, which would have been banned under the bill that we put through Congress, and they don't want the American people to know, and the American people ought to be alert to that.

AMANPOUR: One other question. With all this talk -- and you're going to be leaving in the spring to -- to go back and -- and do the president's re-election campaign -- there are people who are saying that a shuffle might be a really good thing for this president, because there's a lot of insularity, that he's sort of out of touch with where the country is on things like jobs, things like spending, deficits, debt, and it would be good to have pushback.

AXELROD: Yes.

AMANPOUR: Do you think that's possible, if there's a reshuffle?

AXELROD: Well, I don't think he's out of touch. I think he's very much in touch. We're trying to clean up an enormous mess and help the middle class get back what was taken from them over the last 10 years.

But in terms of your question, I think change is -- it happens in every administration, and I think change is healthy. There's a renewing quality to change. Some people who are there are going to be there for a long time; others will go, and new people will come in with new energy and new ideas. That's good for the president. It's good for the administration. I don't think that's a negative at all.

AMANPOUR: And when will you go?

AXELROD: Well, my plan has always been -- and I -- and he knew it, and almost everyone around me knew it, that I would stay into next year and then go home and, as you say, begin working on the re-election campaign.

AMANPOUR: So early spring, late winter?

AXELROD: Something like that. Something like that. But I'm eager for the next eight months, nine months here. We've got a lot of work to do.

AMANPOUR: David Axelrod, thank you very much.

AXELROD: Thank you.

AMANPOUR: Our Web extra.

Thank you.

AMANPOUR: And joining me now is the Republican leader in the Senate, Senator Mitch McConnell.

Welcome to "This Week."

MCCONNELL: Good morning.

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