This is a rush transcript from "Glenn Beck," January 21, 2010. This copy may not be in its final form and may be updated.

GLENN BECK, HOST: Breaking news: I just find out that Air America is going out of business. It all ends at 6:00 tonight. Who would have seen that coming? They are going to be doing a retrospective of some of the best things that have ever happened on Air America tonight between 5:59 and 6:00.

Now, the president has responded to the election in Massachusetts and it amazes me because — I mean, the trend is clear and yet, Obama says it's because you just don't understand the message. You know what I'm saying? He thinks that, I guess, you just are an idiot and the government will continue to treat you like a moron and maybe he'll start talking slower to us.

While everybody zeroed in on Scott Brown and the election, there are other stories that had happened and the weasels in Washington kind of hoped you didn't notice it. I mean, everybody who had bad news jumped on this train.

How many times did we say on this program: watch the other hand? Well, here's the other hand — or hands and other parts. John Edwards, remember him? He's the guy that was almost vice president. Many had that little problem, but come on, who hasn't cheated on their cancer-stricken wife?

Rumors swirled about a possible love child with this handsome woman here, his mistress, and he denied it. He said, no, that didn't happen. Of course, not.

(BEGIN VIDEO CLIP)

JOHN EDWARDS, FORMER VICE PRESIDENTIAL CANDIDATE: I don't talk about these tabloids. They're tabloid trash and just full of lies.

(END VIDEO CLIP)

BECK: Lies.

(BEGIN VIDEO CLIP)

EDWARDS: I don't respond to these lies.

I know that it's not possible that this child could be mine.

(END VIDEO CLIP)

BECK: As it turns out, shock of all shocks, it is possible! See, that's what happen when you — well, maybe somebody can explain it to him later.

Yes, the sweet little love child is his. You lucky kid.

Now, how about Obama's nominee to head the TSA? Erroll Southers, he is the guy that used FBI resources to track his wife's ex-boyfriend. Who hasn't done that — and the cancer-stricken wife thing? Besides me.

His nomination has been on hold for months because some people don't think you should use FBI to track down personal business. He was finally dumped during this historic election. No one was watching. No one could see Jim DeMint finally winning that one.

And, you know what's great is — by sweeping him out, you know, in the cover of darkness, it kind of like what happened with Van Jones. It prevents anyone from asking the question: who picked him? Who vetted him? Who thought that was a good idea?

And then, the couple who crashed the White House state dinner — they pleaded the Fifth 31 times as they appeared in front of Congress the other day. That's great!

Don't pay attention to that story because we'd like to get to the bottom of it and find out, you know, who's just letting people in to the White House.

Then, there's the underpants bomber. The director of national intelligence gave the report of the incident and concluded that the officials botched the handling of the terrorist. No! Again, the news came out during the election.

And my favorite, the debt ceiling. While you were on vacation on Christmas Eve, the Senate voted to raise the debt ceiling. Because here's our national debt, $2.3 trillion. Isn't that great?

But when you were on vacation, just eat turkey, pay no attention to what they're doing in Washington, they raised the ceiling up $290 billion just to get through the spell. Now, a month later, while America is paying attention to Massachusetts, and while Obama is telling you, "I just haven't given enough speeches for the dummies to understand what we're trying to," they are proposing to raise the debt ceiling again — this time by $1.9 trillion.

See, Mr. President, that's the whole point of the tea parties. We do get it. You're out of control with your spending. Even the idiots who drive pick-up trucks can see the direction that the debt is going. Not good.

In fact, if I may, give you a quick example. Beginning with — let's go George W. Bush. Oh, that evil, out-of-control, because everybody on the left, this debt is unsustainable. In 2001, the debt was $5.7 trillion, OK? 2001. By the end, he was spending far too much money, $10.6 trillion in 2008. Got it?

Barack Obama — we start at 2008-2009. Here he is, comes in.

Here is the latest. We've gone in the one year. We've gone to, what is it, 12.3 — $12.3 trillion on the debt. OK? Now, they want to spend another — well, they've already spent it, they're just going to add it to the debt ceiling. So, you know, we just borrow it. Another $1.9 trillion, which brings us to $14.2 trillion.

Notice, end of George W. Bush, first year of Barack Obama — kind of scary. Even the Neanderthal conservatives know that $1.9 trillion, lots of money, fire, good. Spending, bad. Maybe — just maybe, it's the Washington politicians who don't get it.

But let's put it in terms that the weasels in Washington, D.C., can understand — $1.9 trillion. OK. What can you do with $1.9 trillion?

OK. If you are in Washington, let me spell this out in ways you can understand. With $1.9 trillion, we could buy every single American, every man, woman and child an Eliot Spitzer hooker for $6,000 each — one night of unbelievable pleasure for every man, woman and child. Yes!

We could cover the entire cost of credit cards, $5,600 per person for every single American.

How about — because we are having a housing crisis — how about we buy the $200,000 home mortgages for 10 million Americans?

That's just what we're raising the debt ceiling. Yes, they do that.

For each member of Congress — ooh, I could get you a Gulfstream V. This is a sweet — have bedrooms in them and everything. Well, but not — not just one jet because I wouldn't want to have anybody in Congress only have one jet. We could buy Gulfstream Vs to every member of Congress. You could each have 75 Gulfstreams.

We could then buy — we could buy the entire economic output of Brazil in 2008. That's only the world's eighth largest economy. And then we'd still have enough to buy the entire economic output of Ireland.

Then, if you are in the market for — oh, I don't know — something small, maybe aircraft carrier. We could buy 422 aircraft carriers. Or if you're in the market for — I don't know — everything, we could buy with the $1.9 trillion of the debt allowance that Obama is now asking for, we could buy almost every single piece of merchandise that we made here in America and exported from the United States, but only between — only between these dates — January 1, 2008 and June 30th, 2009. But that's just everything we made and sold across, you know, that's it.

You can hide an awful lot of stories and dump them when Americans aren't looking. But this one is going to come knocking at our door soon. And I don't need a Harvard education. I can still drive my pick-up truck and not one of the fancy Mercedes to figure it out. It doesn't add up.

But if we are really good — I mean if we behave ourselves, maybe the president will grace with us a performance and he can talk slowly to us and explain it in maybe one of his next 411 speeches.

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