This is a rush transcript from "Hannity," February 26, 2013. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: The big story we are following at this hour is the countdown to the sequester. Because in two short days at the stroke of midnight March the 1st, $85 billion in automatic spending cuts will be triggered. But even with the clock sticking closer and closer to that deadline, our alarmist in chief, president panic himself, he did not feel the need to be at the White House today, nor did he think it was important tonight to visit Capitol Hill and try and hammer out a bipartisan solution to the mess that he himself has put the country in.

No, instead of focusing on fixing the problem, he decided to take his sequestration scare tactics on the road today with the visit to the commonwealth of Virginia. And as usual his teleprompter was loaded to the brim with more of the same irresponsible end of the world rhetoric that we've all grown accustomed to. In fact, the choice of words was so ridiculously similar to what we've heard from him exactly a week ago, we could not resist on this program to put together a "Hannity" highlight reel of president panic in action.

Do not adjust your screen. This is not deja vu that you're seeing, you're not seeing double. Sadly, this is the quote, "leadership" in the age of Obama.

(BEGIN VIDEO CLIPS)

PRESIDENT BARACK OBAMA, FEB. 26: In a few days, Congress might allow a series of immediate, painful, arbitrary budget cuts to take place, known in Washington as the sequester.

OBAMA, FEB. 19: Now, if Congress allows this meat cleaver approach to take place, it will jeopardize our military readiness, it will eviscerate job creating investments and education and energy and medical research.

OBAMA, FEB. 26: Early education like Head Start and Early Start would be eliminated for nearly a thousand children.

OBAMA, FEB. 19: Border patrol agents will see their hours reduced. FBI agents will be furloughed.

OBAMA, FEB. 19 & FEB. 26: Federal prosecutors will have to close cases and let criminals go. Air traffic controllers and airport security will see cutbacks and that means more delays at airports across the country. Tens of thousands of parents will have to scramble to find child care for their kids. Hundreds of thousands of Americans will lose access to primary care and preventive care, vaccinations and cancer screenings.

OBAMA, FEB. 26: These cuts are wrong. They are not smart.

OBAMA, FEB. 19: They are not fair, they will hurt our economy.

OBAMA, FEB. 26: They're a self-inflicted wound that doesn't have to happen.

OBAMA, FEB. 19: They don't have to happen.

OBAMA, FEB. 26: Now I've laid out a plan that details how we can pay down our deficit in a way that's balanced and responsible.

OBAMA, FEB. 19: A balanced plan. One that pairs more spending cuts with tax reform and close the special interest loopholes.

OBAMA, FEB. 26: And the second I get that bill on my desk, I will sign it into law, but I've got get Congress to pass it.

OBAMA, FEB. 19 & FEB. 26: Not one of us will get 100 percent of what we want.

OBAMA, FEB. 19: Nobody should want these cuts to go through.

(END VIDEO CLIPS)

HANNITY: All right. A classic. If and when the Obama sequester takes effect on Friday, it's because the president is more concern with fear mongering than finding a solution to the problem that he himself created.

Joining me now with -- Democratic Congressman Keith Ellison from Minnesota. Congressman, welcome back, sir.

REP. KEITH ELLISON, D-MINN.: You bet.

HANNITY: I guess that's what we can describe as staying on message, something the Democratic Party I would argue is very good at. Let me ask you --

ELLISON: You're pretty good at it, too.

HANNITY: Thank you.

ELLISON: I mean, you know, quite frankly you are the worse excuse for a journalist I've ever seen.

HANNITY: I can't hear you.

ELLISON: You heard me.

HANNITY: I did not. Say it again. I didn't hear you.

ELLISON: I heard you, I mean, what you just displayed was not journalism, it was yellow journalism, it wasn't anything close to trying to tell the American people what's really going on, and I mean, it's just shocking.

HANNITY: The yellow journalism, to play Obama in his own words is yellow journalism?

ELLISON: With the background music and what you lead-up before, you let the president talk. Let me tell you, I was here, everything the president said is absolutely true.

HANNITY: Yes.

ELLISON: And for you to try to make the American people make think that it isn't is deceptive on your part, and it's a breach of everything, every journalistic ethic I have ever heard of was just violated by you.

HANNITY: Really.

ELLISON: And the president was truthful. The president was honest, what the president said was dead on accurate and for you to say the president is to blame here is ridiculous. I was there August, 2011 when the Republicans, your party, which you shamelessly --

HANNITY: I'm not a Republican, let me correct the record.

ELLISON: You are nothing but a Republican.