This is a rush transcript from "Glenn Beck," February 18, 2010. This copy may not be in its final form and may be updated.

GLENN BECK, HOST: I want to talk to you a little bit about the Titanic.

Let me show you a little bit of "Titanic." Remember when they hit the iceberg and the captain was like, "Oh, crap, what are we going to do?" This is what he did: He sent them out to play. Play a little music. Keep the passengers calm.

He knew it was sinking and they didn't have enough lifeboats. I think this is the kind of situation that we're in now, quite honestly.

If this was our ship, we've just hit the iceberg and it's just below the water line. It's ripped a hole all the way along the side of the rest of the ship.

Well, what do the passengers do? The passengers all got up out of bed and they went out of their staterooms and people came up to the captain and said, "What is going on?" He said, "Nothing. Nothing. Don't worry about it."

There were those that knew — they knew. Others went back in their staterooms and just went to bed.

Some were, if you remember the movie, locked behind the gates to keep them back.

And then there were those who came up and they were in here because the captain said, "Just entertain them. Entertain them. Entertain them. Keep them happy." So they're in this bar, if you will. They're in here, inside, having a good time.

And anybody who might be standing on the deck, here, saying, "Wait a minute. I'm watching the water line. We're sinking!" If they grab a gun — like the guy did in Texas — if they grab a gun and they shoot the captain, is that any help? If they somehow or another, you know, kill a bunch of the crewmen and blame it on them, who cares? Who cares? It's not helping.

So what do you do?

Well, there's only a certain number of lifeboats. That was the problem with the Titanic; they did not have enough lifeboats. That's why there were just trying to keep everybody quiet.

They were also — the captain — you know, it's going to look bad for White Star Line, OK? So he went down with the ship. Oh, boy. That's real brave.

Here's what you do: If you know the ship is sinking and there is only a certain amount of lifeboats, if it were me, I would be telling everybody I know that is awake, I'd say, "Don't listen to those people. Don't listen to them. Come out on the deck. Help me. I don't care what you find. Go look through the ship. Find things that float. Anything that floats and prepare."

There may only be six of us on the board right now here on the deck. Everybody might be pointing out the windows and laughing and whatever. Find anything that floats. Do everything you can to make some life rafts, anything.

Here is the secret: When the water eventually comes all the way up and it's up to here, and the people are getting their feet wet here inside. They're no longer making fun of you.

Now, they're going to come out those doors and they're going to be a little panicked. The key is to be the person standing here on the deck with extra rafts, lifeboats, anything. And without any kind of malice, you say, "Thank goodness, you're finally here. Great. Get into the boat."

You see, the name of the boat is the America. But America isn't sinking. Just America as we have run it, is sinking. America, as we have known it, is sinking. But it's not the ship. Who cares about the White Star Line? We'll build another one. We'll build a better one, one that won't sink or one that will sink slower.

We don't care about the ship. We care about the people in it and the idea of the ship.

We need to get people into the lifeboats with the idea of the Constitution, because we can build a fleet of these.

It's the people and Founders' ideas that matter. It is incumbent upon each of us that are awake to lead the way, build life rafts, show other people how to build life rafts.

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Then, without any malice in our heart, no matter what they said to us as they were pointing out the windows, you're crazy. When they finally get it, we need to be able to say to each other and say to them — not I told you so, but welcome, brother. Come on, get in the boat.

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