'This Week' Transcript: Gov. Arnold Schwarzenegger and Gov. Edward Rendell

MORAN: Governor Schwarzenegger, is the Republican Party, your party, the party of no right now?

SCHWARZENEGGER: Well, you know, they have the big opposite position. I mean, because first when it come to the party itself, they have to do everything they can in order to win in November. So they're going to say no to everything, they're going to say it is not good but Obama is --

MORAN: So they are the party of no.

SCHWARZENEGGER: They're the party of no, and at the same time, I think that there are a lot of people that are disenchanted and dissatisfied and they're angry and this is why you have the Tea Party and all of those things. The Tea Party is not going to go anywhere. I think the Tea Party is all about just an expression of anger and dissatisfaction and I see it in California when people come up to me and says, you know I'm angry that you guys don't get along in Sacramento. I'm angry that they're not getting along in Washington. I'm angry that nothing gets done. I'm angry that I'm unemployed. I'm angry that people are losing homes. I'm angry that businesses are losing their businesses and all of those kind of things. And the economy is down.

But that's only the case in California. That's not only the case in America. That's the case all over the world. If you read six newspapers from different parts of the world, you will see the headlines are pretty much the same. They're all angry at their leaders because the economy is down and the world basically has one-third less wealth right now. And so that makes people angry.

So I think the key thing for the Obama administration is to just keep staying on track. Nothing is going to be easy. And you're going to fail and you're going to do well, and you're going to fail, and you're going to do well.

If you look at the Olympics -- I think all of the lessons in life, you can learn from sports. I mean, this girl Vonn who just had the gold medal in skiing and did a fantastic race in the downhill, the next day she wiped out. That's the way it is, and totally accepted in sports -- totally accepted. People say, oh, that's too bad, isn't it, but the next time, she's going to go do the giant slalom, and then there will be the slalom, and so on.

In politics, when you fail, it's like the end of the world because the press keeps piling on you and beating you up and all of those kind of things.

(LAUGHTER)

I am never afraid of failing. I've failed several things that I tried to do in California, but we have won with many things that we have tried in California and we have done in California. Just the redistricting -- it was a perfect example. Five times, we tried redistricting. And we had lost and lost and lost. And people said, don't you get the message that people said no?

And I said, no, I will never get the message. I will always try and try. And the fifth time, we got it, and we won it. The same will be with open primaries, now, in June. We will win open primaries because people want to have politicians not to be so far apart, left and right and be -- cannot get in the middle and get anything done. They want to get together. They want us to work together.

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