This is a rush transcript from "Hannity," June 4, 2012. This copy may not be in its final form and may be updated.
SEAN HANNITY, HOST: Tonight, we continue to do what the main stream media will not do, and that is vet the president. Now back in 2008, President Obama promised that if elected, he would bring hope and change to the country.
Well, my next guest says we got the change that he promised, but none of is it for the better. After thoroughly examining this president's numerous executive orders, questionable appointments, David Limbaugh reached one conclusion -- that is the president's administration is waging war on the American way of life.
Now his latest sure to be bestseller is being hailed as the definitive indictment against the Obama administration.
He joins me now in studio to explain why. David, always good to see you. How are you?
DAVID LIMBAUGH, "GREAT DESTROYER" AUTHOR: Good. How are you?
HANNITY: By the way, and for those, I've said this before. You have done work for me over the years. This is as an attorney. Full disclose or else Howie Kurtz will have a heart attack.
You know, I want to play something because you even mentioned in this the book. The first chapter in the book is the war on America. I want to show how Obama blames the American people. He blames everybody in anything. I want to show how he blames the American people for the bad economic news.
(BEGIN VIDEO CLIPS)
PRESIDENT BARACK OBAMA, OCT. 25, 2011: We've lost our ambition, our imagination and our willingness to do the things that built the Golden Gate Bridge and the Hoover Dam and unleashed all the potential in this country.
OBAMA, NOV. 12, 2011: We have been a little bit lazy I think over the last couple of decades. We have taken for granted, well, people will want to come here and we aren't out there hungry selling America and trying to attract new businesses in to America.
(END VIDEO CLIPS)
HANNITY: Americans aren't hungry. We have lost our imagination.
LIMBAUGH: It's shameful. Charles Krauthammer said it's ill-conceived, ill-concealed content. It's preposterous for him to go after the American people. He is so narcissistic that he still can't accept responsibility for his own economic policies.
You know, he still blames George Bush after three years and now he is talking about the American people being soft and lazy. Let me tell you what they are, entrepreneurs. They are scared. They are scared to hire because of the massive regulations in ObamaCare.
There have been surveys saying they are on hold. He has increased regulations in his war on business like we have never seen before. People are at a standstill. But he doesn't understand the profit motive. He's against profits.
He thinks just hire more people. He gives these speeches, just hire people. He thinks that you can hire just because you want to as a matter of volition even if you don't have demand.
HANNITY: You have 100 pages of end notes and index in the book. You know, all the research that you have done, I mean, you know, it's exhaustive frankly just reading that part of it.
But here is my question. When you say "war on America," is it that he doesn't believe in capitalism? Is it that he has been sort of indoctrinated in this liberal ideology that he believes in it, which is why he won't change? What have you concluded?
LIMBAUGH: I don't think he believes in the American idea. I don't think he believes in our Constitution. He doesn't believe in the constitutional republic. He says democracy is messy. He kind of wishes he had it like China.
He says it tongue and cheek, but he now says he wishes he could get things done as if he had sole power. The thing is that people forget. He did get things done. He got his way. You mention this on your show and you've challenged people who said otherwise. He got ObamaCare. He got the stimulus done. He promised he wouldn't -- unemployment wouldn't go above eight percent. He got his way and it did go above eight percent. He owns it. Let's hold him accountable.
HANNITY: What do you think it is, though? Is it that the America that has made us prosperous and successful? Because you go in to this about oil, you go into this about the economy and attacks on conservative, which are numerous, too numerous to even mention. What is it that he believes? Where does this come from?
LIMBAUGH: Well, I think that he believes that in a more socialistic form of government, business cannot create jobs without prompting of the federal government. That's why he gave the speech where he talked about Teddy Roosevelt on to businesses, antitrust and all of that.
Implying that we conservatives believe in unbridled markets and that we wouldn't even regulate under the rule of law or antitrust laws. That is not true. We need freedom. We need businesses to operate in a free environment with lower taxes, lower regulations so they can do their thing. He has no idea, never met a payroll.
HANNITY: After I watched all the research you did, as I said it's exhaustive. What do you fear the most if he were to get re-elected?
LIMBAUGH: Well, the things he has done even with an election pending in six months or so are frightening. He is still doubling down on the Keynesian spending on the debt. Refusing to rein in the debt, refusing to give us a plan on entitlement, refusing to lead the Senate into giving us budget after 1,100 or so days.
I fear that he would do more administrative end runs around Congress, more abuse of authority with his executive power and would create even more debt. We only have a two or three-year window according to experts if you listen to what Paul Ryan has said.
I can't emphasize how grave the situation is. We're not just being sensationalistic. We're not being hyperbolic. The future of the country turns on this election.
HANNITY: You think it's a turning point election.
Here is my next question. Why is it that so many people fail to recognize the failure, his policies, in other words, they defend it to the death.
In other words, have the American people shifted their mind set and conditioned perhaps to believe that this, you know, spreading the wealth is the answer? Are there too many people dependent on government?
LIMBAUGH: I am more optimistic and I actually believe that more people than you think -- not you, but people think -- are still optimistic about the American spirit. If he gets defeated, there will be an unleashing of optimism like we've never seen before.
And I actually think he will be defeated. Notwithstanding the fact that 49.5 percent of the people are not paying income tax anymore. I actually think that people will vote him out. I think he's way less popular than the main stream media would have us believe because his record has been an abysmal failure. People can see it, terrible failure.
HANNITY: It's funny. I read your book and you go through everything from the economy, the war on the economy, war on culture, war on values, the war on oil, the war on energy and then the national security, you go through this whole thing.
I was surprised -- and this is why I almost called the book encyclopedic because it's chapter and verse on his presidency. I found there was so much I forgot. Do you think people forget? It's almost been on a daily basis --
LIMBAUGH: No question. We have almost become numb to it because there is an overwhelming amount of evidence of things that he has done. This is almost humorous.
When I finished writing the book I had probably 12,000 articles and 57 folders. Not exaggerating. It was overwhelming. I wrote the book in five and a half months and went through the editing process. Then I started reading it and preparing for these interviews. I was overwhelmed reading it again. No, I can't even remember how am I going to do interviews? There is so much that he has done. You can read it and you lived it all and you're still surprised when you read some of this stuff.
HANNITY: I was -- no, what it does, you put it all -- it puts it all together.
LIMBAUGH: That is the point. I want people to see it together because the evidence is overwhelming. This is our kids' futures we're dealing with and I'm not making this up to sell books. Of course, I want to sell books, but I would not want to sell any bock if he gets elected. I would trade anything for that. Get him defeated. We have to defeat him.