This is a rush transcript from "Hannity," September 8, 2011. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: President Obama just unveiled the jobs plan that we've been waiting and waiting and waiting and waiting for. Just to an address to Joint Session of Congress that sounded more like a candidate's stump speech than a president's policy proposal.

Now, "The Anointed One" and his economic team had months to hammer out the terms of the American jobs act. And tonight, the president proposed a massive give away of government goodies, to everybody, from teachers to small business owners, to construction workers. All paid for with, well, he's not quite sure, except of course for this.

(BEGIN VIDEO CLIPS)

PRESIDENT BARACK OBAMA : While most people in this country struggle to make ends meet, a few of the most affluent citizens and most profitable corporations enjoy tax breaks and loopholes that nobody else gets.

OBAMA: We need a tax code where everyone gets a fair shake.

(END VIDEO CLIPS)

HANNITY: Now, since it seems like the words stimulus and tax hikes were thrown out by the president's pollsters before the speech, I think that's the president's new call to tax the rich. And given that it was President Obama himself who delivered the speech, it also included a swipe -- what a shock -- at his political foes.

(BEGIN VIDEO CLIP)

OBAMA: Some of you sincerely believe that the only solution to our economic challenges is to simply cut most government spending and eliminate most government regulations.

OBAMA: But what we can't do, what I will not do, is let this economic crisis be used as an excuse to wipe out the basic protections that Americans have counted on for decades.

(END VIDEO CLIP)

HANNITY: You know, basic protections, there were always there like Obamacare and "cash for clunkers," you know, urgent legislation that the president used his political capital to ram through when he had majorities in both houses of Congress.

Now if that does not tell you what this man's priorities are, I don't know what does.

Joining me now with analysis, he was in the audience for tonight's big speech, House Majority Leader Eric Cantor.

How are you, Congressman? Welcome back, good to see you.

REP. ERIC CANTOR, R-VA., HOUSE MAJORITY LEADER: Good, Sean, good to be on.

HANNITY: All right. I don't know what to say except a yawn, repetitive, doubling down on stupid. You know, I'll let you use your own terms here. But it sounded a lot like the stimulus proposal that he had that created no jobs that cost us millions of jobs. Your thoughts?

CANTOR: Well, my question in sort of reflecting on the president's performance tonight is the approach he took. You know, it was presented as an all or nothing package. And, you know, the president needs a win here. I think the people of the country need a win. You know, they are hurting. We all know the unemployment numbers. We know that people are just plan out of money and out of hope here. So, it is just striking to me that the president would sort of lay down the gauntlet and say, pass my package, all or nothing. Especially after all we've been through here.

Now, as you indicate there was plenty in there and policy-wise, there are some things that sort of resonate with the Republicans. I mean, when you start talking about tax relief for small business owners, that's something that we've been talking about for several years now. When you start talking about streamlining bureaucracy, so that you can get more bang for the buck, if you will, in infrastructure spending, fine.

But, you know, and he mentioned a program in Georgia having to do with unemployment benefits. That Georgia works program was something we've been talking about since December of 2009.

So, there certainly are some things I think that we could some wins on together for the people. But when he says, it is basically all or nothing, you know, that is not how things can get done. That's not a serious way to go and accomplish some policy results.

HANNITY: Yes. But in the end too, this is just shy of $500 billion that we're talking about. And he kept saying, we've got this thing paid for. And then he punts on paying for it by handing it off to the Super Committee. And we are not even confident or we don't really know if they are going to be able to cut the money that they already promised that they are going to cut.

So, he doesn't have this paid for. He's telling Congress, you guys get it paid for.

CANTOR: Well, you know, it was I think not accurate to say it was paid for, at least in tonight's speech. How could it be paid for if then he asks Congress to identify cuts and savings? I mean, come on. So, we're back to sort of the same old, same old when it comes to the kind of spending. And I will tell you, I've not seen the details. But some of the spending language that he used sounded a lot like the kind of language we heard in the stimulus pitch, several years ago. And we all know how successful that was.

HANNITY: Yes. You know, well, look, here's the interesting thing to me is that he seem like he's a little late to this dance, when you really think about it. Because we just had this big debt ceiling debate, he's still never presented an actual plan. It's not a plan that we can go online tonight and read, this is my specific bill, this is what I want the American people to support. So, the devil is always going to be in the details.

But the one thing that is consistent as I predicted last night, yesterday on this program, and on my radio show, is that he used class warfare, repeatedly. He wants tax increases, that means for small business in the end. And as David Plouffe and Pfeiffer,were out there for the last two days, and I have spies -- you may not know this Congressma, I have spies that sat in the little spin room meetings -- they are going to go out there and they are going to say, Michele Bachmann supported the payroll tax cut. And so and so supported this in the past. Is that going to be effective in selling this deal?

CANTOR: No, it's not. Again, I mean, the president is saying something is bipartisan basically suggests that he knows what we would be for. Again, that's not how you get a win here. That's not how we are going to produce results for the people that are out of work and for the people that are hurting in this country.

So, I really do think there's a better way. And the president, I think, missed an opportunity to put his best foot forward to say, hey, we know Republicans and Democrats, conservatives and liberals are not going to agree on a lot of things. But there are some things that we can do if we transcend those differences and stick to what the mission here is. And that is to get entrepreneurs back into the business of job creation.

HANNITY: I got the sense that the president tonight sounded like a used car salesman trying to push clunkers out the door as fast as he could. Pass the bill. Pass bill. Pass the bill. Let me show you what he said.

(BEGIN VIDEO CLIPS)

OBAMA: I am sending this Congress a plan that you should pass right away.

OBAMA: You should pass this jobs plan right away.

OBAMA: Pass this jobs bill. Pass this jobs bill.

OBAMA: Pass this jobs bill.

OBAMA: You should pass it right away.

OBAMA: Pass this jobs bill.

OBAMA: You should pass it right away.

OBAMA: Pass this jobs bill.