I'm not going to try for a complete transcript, but basically Kantor gets polls from Indiana. They're close. He says even if they don't win the White House has got to be shitting themselves. Then what I think he says is something along the lines of "how would you like to be beaten by a worthless white n*****," presumably meaning Bill Clinton himself and referencing the Bush I campaign team's likely view of Clinton.
"I've never used that word in my entire life, ever, under any circumstance, ever," an angry Kantor told The Huffington Post, citing his and his parent's work fighting for civil rights. "I have listened to [the video] and so have you. You can't tell what it is I'm saying in that second sentence, you can't decipher that."
Indeed, a review of the original copy of the 1993 film The War Room, from which the excerpt was taken, is virtually inaudible. The sound suggests, if anything, that instead of saying "How would you like to be a worthless white n****r?" Kantor says, "How would you like to be in the White House right now?"
In the YouTube clip it does sound like the "white n*****" is said, but even if it is it isn't directed at the people of Indiana.
Anyway, dumb fake controversy. Apologies for even linking to it.
...here's the original war room. about 4:20 in. The offending phrase is certainly less audible than in the bullshit Youtube clip, and most likely is just something along the lines of "how would you like to be working in the white house" though it's hard to hear.