This is a rush transcript from "Glenn Beck," February 5, 2009. This copy may not be in its final form and may be updated.

GLENN BECK, HOST: BECK: 500 million people will lose their jobs every month. Yes, comrade, Pelosi. Yes, we can. Now, some pigs will say $7.6 billion for rural advancement for the communities; $1.7 billion for the National Park System; $87 million for a polar ice-breaking ship, $50 million for the National Endowments for the Arts. That's really -- that's not going to save the country.

But of course they would say that. What do they know about the struggle of the noble worker? We, comrades, must keep up the fight. We must show them the way. Stay strong, comrades. Victory is finally near.

Stop. You know, yesterday I did a segment like this, and The Drudge Report, you know, "Oh, look. They call it communism." You know what? Look, you want to be a social socialist? Be a socialist. That's fine. You want to be a communist? Be a communist.

Why are we hiding this? Why is it that we're not having the conversation now about universal healthcare? Let's have that conversation, not the conversation of, "Quick, our country will never recover if we don't pass all of this bull crap which we're still printing out, unless we act now."

Is socialism taking over our country? It has in our inner cities for a long time.

In Los Angeles is Reverend Jesse Lee Peterson. He's the president and founder of Bond Action, a cultural organization.

Reverend -- Philadelphia. I lived in Philadelphia --

REVEREND JESSE LEE PETERSON, FOUNDER AND PRESIDENT, BOND ACTION: I loved that comrade update, by the way.

BECK: Thank you very much. A lot of people love it, and then again, some don't.

PETERSON: Yes.

BECK: I lived in Philadelphia for a while, and it's a great city, a really, truly great city. But it is a city that has enslaved itself with socialism and corruption like I haven't seen.

PETERSON: That's right.

BECK: Why is it -- why is it, Sir, that some of our Washington, D.C., Detroit, Philadelphia -- our biggest cities -- are enslaving themselves?

PETERSON: Well, most of the inner cities are run by black liberal Democrats. The mayor, for the most part, is black. The police chiefs are black. City council men and women are black. And yet the cities are out of control because one of the business -

BECK: OK. Wait. Hold it. You're not implying that it is a black thing, are you?

PETERSON: Well, it is a liberal and Democrat thing. But for the most part, the inner cities are now controlled by the black liberal, Democratic politicians.

BECK: OK.

PETERSON: And one of the big mistakes that black Americans made was to elect politicians, especially liberal politicians, thinking it was going to enhance their lives. They thought if they had black Democrats in control of the city, somehow or another, the black life would get better.

They were wrong by that, in that you have abortions out of control, Glenn. Since the early '70's, over 15 million black babies have been aborted.

Seventy percent of parent planning centers are in the inner cities. Black on black crime, out of control. Seventy percent of black babies born out of wedlock nationwide. And in the state of Indiana, 80 percent of black babies are born out of wedlock, and it is because of socialism.

Most black Americans -- not all, but most black Americans have a socialist mentality. That's why they elected Barack Obama as their president, because he is the first black liberal socialist Democrat. And they think that somehow or another, their lives are going to get better by electing him.

BECK: You know, Reverend, I tell you, you know, I pointed out all of the Marxist tendencies of President Obama when he was just running.

PETERSON: Yes.

BECK: And nobody really seemed to care. People dismissed it. Now, people are going to come out of the woodwork saying, "Oh, look at what you were saying about - "

Look, if that's what you are, then make the point. We are being lulled into this and it's all being denied. I mean -

PETERSON: Yes.

BECK: As a conservative, you don't have problems coming out and saying, "I think we should have smaller government." Why is it that -

PETERSON: That's right.

BECK: Why is it that so many progressives or socialists have a problem saying, "I'm a socialist? I believe in gigantic government?"

PETERSON: They know it doesn't work and that's why they won't admit it. I have to tell you, Glenn, the electing of Barack Obama was about black racism and white guilt. White Americans want to make up for past history, slavery and they have been blamed for what is happening today.

And they think by electing a black socialist liberal, somehow or another, black Americans are going to overcome their racism. But the only thing that is going to change their racism is black folks have to forgive. They have to drop their anger.

My concern - we have 10 reasons to fear Barack Obama's socialist agenda. Barack Obama-nation -- and if the people are going to have a Web site, they can read some of them.

BECK: OK. Reverend, I appreciate your time. I mean, I'm just still - we're still printing this stupid stimulus package. Barack Obama said today - can we put this back up on the Web site? Reverend, thank you very much.

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