Jim Bob and Michelle Duggar -- Josh Made 'Bad Choices' (VIDEO)

Jim Bob and Michelle Duggar are finally copping to being failures as parents -- but their description of Josh Duggar’s molestation incidents might seriously piss you off.

Josh's parents sat down with Megyn Kelly of FOX News to speak out for the first time since the molestation story broke -- and on the heels of a newly released police report that shows Jim Bob and Michelle horribly dragged their feet on reporting Josh's crimes.

FOX released this brief clip of the interview (which airs Wednesday night) ... in which they rather nonchalantly describe Josh's "choices."

TLC has yet to make a final decision on the fate of "19 Kids and Counting" -- and it was not involved in setting up the Duggar's FOX interview. We're told execs will be watching closely when it airs.