This is a rush transcript from "Glenn Beck," October 27, 2010. This copy may not be in its final form and may be updated.

GLENN BECK, HOST: Hello.

I -- I was in Denver, Colorado, yesterday. I was in Minneapolis in the morning and I went to Mount Rushmore and then I was in Denver. And when I got to Denver, I have to tell you something, I heard that Tom Tancredo might actually be the governor. I thought, you got to be kidding me? I've never seen any chart like it before. I cannot stress to you enough the importance of getting out to the polls for this election.

I know my critics are, you know, just think I'm a shill for the GOP.
Obviously, they don't watch this show. Tom Tancredo -- he's crushing the Republican.

Your first priority as an American should not be for the "R" or the "D." They're meaningless. They are meaningless in the end. You vote for the candidate with honor and integrity, the one that stands for the Constitution, one that is for smaller government and cutting spending.

That's my opinion. You vote however you want. That's what I look for. And if it's -- well, it's usually the Republican -- but if it's the Republican? Great. If it's an independent? Great. If you think that fits the Democrats? Well, OK.

Joe Biden said this election is more important than 2008. I think that's actually the first thing that Joe Biden has said that I actually agree with because America is at a crossroads.

November 2nd will determine which road America will take. Will we start on the path to restoring honor and trust and common sense in Washington? Or will we continue down the road where anything goes, the ends justify the means and people can just look at you and lie to your face and there's no repercussions? Will we continue to live in a world where political games and the political allies and the George Soroses of the world control everything?

Have you noticed Nancy Pelosi and President Obama and his administration keep talking about the economy and how it's recovering, it's on the right track, and how they're saving jobs left and right? Watch:

(BEGIN AUDIO CLIP)

PRESIDENT BARACK OBAMA: We've been able to create or save 3.5 million jobs.

(END AUDIO CLIP)

(BEGIN VIDEO CLIPS)

HOUSE SPEAKER NANCY PELOSI, D-CALIF.: That legislation, according to The Economist, has saved or created 3.6 million jobs.

OBAMA: So, we've made progress and we're moving in the right direction.

VICE PRESIDENT JOSEPH BIDEN: We have turned this economy around. Instead of falling off the abyss, it's on firm ground. It is heading in the right direction. And every aspect of the economy is growing.

(END VIDEO CLIPS)

BECK: I don't know what they said. I was just watching their stupid hands.

Pelosi even demands credit for what she's done. Watch:

(BEGIN VIDEO CLIP)

PELOSI: So you have all those forces at work, pouring millions and millions of dollars into the media and now into the campaigns --

(END VIDEO CLIP)

BECK: Like Soros.

(BEGIN VIDEO CLIP)

PELOSI: -- to mischaracterize everything that we did.

But you're right, we haven't really gotten the credit for what we have done, but we will take it to the voters and have a Democratic majority to follow through.

(END VIDEO CLIP)

BECK: Yes, we haven't really gotten credit. Oh, you're about to get credit for what you've done.

Those with eyes, those -- you know what? You could pluck my eyes out. Oedipus could see the reality on the ground, not improving here.

Here's the reality, America. We have lost 3.3 million jobs since Obama took office. I want you to understand this: 3.3 million jobs lost under Obama. Remember when they said that unemployment -- if we have passed a stimulus and if we do health care -- will never go over 8 percent unemployment. It's now at 9.6.

Now, they're talking about what a great job they were doing. But if you remember way back, and get into the way back machine, way back to 2003, when job losses under George W. Bush after 9/11, and all the attacks and the shattered economy, and everything was starting to shimmy apart, before the recovery started, George W. Bush lost roughly 2.7 -- I'm sorry, 3.2 million jobs -- 3.2, 3.3.

Do you remember what Nancy Pelosi was saying back then?

"Since President Bush took office, this country has lost 3.2 million jobs, the worst record since President Hoover. Today, we learn that in July, nearly half a million people just gave up looking for jobs."

OK. Do you remember how it was the worst president since Herbert Hoover? Umm... bigger number! Nearly identical numbers but the "Rs" and the "Ds" have just switched power. They switched places. I mean, they're just -- they're like -- I swear to you, sometimes just watching this, it's just like -- oh, it's your turn. I'm the opposing party. OK, hang on just a second. Where were we in the script again? And they just switch the talking points.

Here's your choice, America: More talking points from the "Rs" and "Ds" just to further their own political power or you can go for the truth. And here is the truth on jobs: Government does not create jobs. They destroy jobs. I mean, unless you're talking about those great, wealth- creating jobs of, you know, the federal government jobs.

I'm sick of candidates pandering to people and talking about all the fancy ways that they're going to create jobs. You know what I'm for? I'm for a candidate whose jobs platform is this:

Hi, I just want you to vote for me because as a member of your government, I'm going to do everything in my power to reduce my power. I'm going to get government the hell out of the way of the free market system. I want you to understand, not out of the way of the criminals, not out of those people on Wall Street or the bankers that want to break all the rules and screw the little guy -- no, no, no. But I will get out of the way of the free market system and small businesses who in times of crisis create 80 percent of all new jobs in America. History tells us that.

That guy -- that guy is the guy I'll vote for. But nobody talks about that.

Instead, here is the load of B.S. that we're being sold: "Every single great idea that has marked the 21st Century, the 20th Century and the 19th Century has required government vision and government incentive."

Wow! Joe Biden, what a claim that is! I didn't know that Bill Gates was working for government when he created Microsoft. When he was sitting there in his underpants in his dad's garage and he's coming up with Microsoft, I didn't know that it was the government that inspired him.

I didn't know that Henry Ford was working for the Department of the Transportation when he came up with the assembly line. Or Samuel Morse's electric telegraph was from the government or Isaac Singer's sewing machine or Elisha Otis' elevator. How about William Carrier's air conditioner? Is this -- was this an idea that he got from the government?

I thought these were just regular people who had an idea for products because they thought of them. No, no. Everything since 1800 has been inspired by the government. Look again what Biden says: "Every idea has required government vision." Every idea!

I don't think I heard of an inventor in the history of mankind that thanks the government for inspiring their idea.

Government cannot compete in the private sector and private sector ingenuity. Look what happens when they try. You have Federal Express or you have the United States Postal Service. One makes millions of dollars and gets things on time. The other loses billions of dollars and it's open with a huge line about 10 minutes a day.

Government health care versus private health care: One has people drinking water from potted plants. The other has world leaders flying out of their own country to get what they can't get anywhere else in the world and they get it here.

Here's the truth: Government isn't driving ideas. It destroys ideas. It destroys almost everything in its wake. George Washington said that government is like fire. It's good -- unless it becomes the master of you. It must be treated as fire.

The bigger our government grows, the less and less America produces. In its simplest terms. If you remember the girl with the lemonade stand who was shut down because she didn't have a permit? Yes, they shut her down because she was supposed to -- it's a lemonade stand!

Now, TheBlaze.com is reporting on the latest scandal. Tax officials threaten to shut down a kid's pumpkin stand for lacking a proper permit. How is that inspiring a kid to grow up and start their own business?

It doesn't inspire, it destroys.

We have now had a century of progressive progress -- government growing bigger and bigger. So, what's left? What is left of our country?

We made all this progress, look at it. Look at the size of the government from 1900 to 2000. Has it gotten bigger or smaller? Oh, sure, it's been Republicans and Democrats back and forth. Sure. But let's look at it over 100 years. Have the progressives grown the size of government?

What was the tipping point? Well, the tipping point, really, there was one in the 1970s when we went off the gold standard and then the late 1990s when the Fed started just creating bubble after bubble after bubble because we had to continue to spend.

Well, let's look what's happened since the tipping point of the bubble years. These are just a few stats from BusinessInsider.com about the deindustrialization of America. Are you ready?

Since 2001, the United States has lost 42,400 factories. We have shut them down. That's not jobs. That's 42,400 factories have been shut down in nine years. Seventy-five percent of those factories employed over 500 people -- times it by 500. That's how many jobs we've lost.

In 2008, there were 1.2 billion cell phones sold in the world. How many of those cell phones -- 1.2 billion cell phones -- how many were made here in the USA? Zero.

If our trade deficit with China increases at its current rate, job losses due to the trade deficit, with China, this year alone -- how many will we lose? Half a million jobs -- just in our trade deficit.

In America today, consumption accounts for 70 percent of our GDP. Of this 70 percent, half is spent on services. What's that mean? Going out to a restaurant. Well, how -- if we're just doing restaurants, what are we selling to China? Trade deficit.

The United States has lost one-third of all of its manufacturing jobs since 2000 -- one-third.

The United States spends approximately $3.90 on Chinese products. So, we send $3.90 to them for every dollar they spend with us -- again, because we're just doing restaurants for manufacturing jobs.

Some economists are projecting now that the Chinese economy will be three times larger than the U.S. economy by the year 2040. If that is true, if that is true, aren't we the people that are making the little bamboo umbrellas for everybody's drinks?

At the end of 2009, 12 million jobs in the U.S. were making something. They were manufacturing -- less than 12 million jobs in the U.S. When was the last time, less than 12 million Americans were employed in manufacturing? 1941.

Are we progressing? Are we going in the right direction or the wrong direction? We are consuming more and producing something that the world wants -- less.

We need big ideas from the private sector. But businesses aren't coming up with those things. Why? They're holding on to their money. Why? Because they are afraid. They are uncertain. They don't know what this administration is going to do to the next.

Just the stuff they did last year -- as a small business owner, I don't know what it's going to cost me for health insurance. I don't know what my taxes are going to be.

Did you see what the president said about anyone who disagrees with him two days ago? Watch:

(BEGIN AUDIO CLIP)

OBAMA: If Latinos sit out the election instead of saying, we're going to punish our enemies and we're going to reward our friends who stand with us on issues that are important to us, if they don't see that kind of upsurge in voting in this election, and I think it's going to be harder. And that's why I think it's so important that people focus on voting on November 2nd.

(END AUDIO CLIP)

BECK: Do you understand that? Punish his enemies and reward his friends. That's what we have become. Who are his friends? The labor unions. Punish the enemies. What president ever talked like that about 50 percent or even more than 50 percent of the population of the United States.

Name the president. Go ahead. I mean, I'll wait.

Businesses are scared to death. We are left to hope that government is going to come up with the next big idea.

Well, Joe Biden said every great idea in the last 200 years was inspired by the government. Well, that should be a breeze, shouldn't it? Here's what they've come up with: green jobs.

All right, let's take an honest look at green jobs because they tried this in Spain. They banked their entire economy on the lie of green jobs. They immediately started losing two jobs for every green job they created. You create a green job, you lose two. That's why they are currently sporting a 20.5 percent unemployment rate -- 20 percent.

All right. We're investing in solar panel production. That's the future! Well, how are we going to compete on a global market against China?

Nobody will tell you this: Do you know that China controls 95 percent of the Earth's rare minerals? While we have been out spending money, they've been out in investing. They have gone out all over the world and they bought 95 percent of all the rare minerals. Now, they put a hold on exporting the rare minerals.

Why does it matter? Well, because rare minerals are a critical component to solar panels, high-tech weapons, smart bombs, telephones.

Now, how about our electric cars? We have the new Chevy Volt from "Government Motors." Yes, not so much. It turns out the facts are: GM wasn't telling the truth about the Volt being an all-electric car. Engineers are now admitting that highway speeds -- at the highway speed, the gas engine actually takes over and drives the car. So, this is just another hybrid. Or is it just another lie from the government and a government-run industry?

By the way, the same time "Government Motors" is lying to us, Ford, who didn't take a dime of stimulus money, just posted a profit. There is an idea not inspired by our government.

So, how do these government ideas lift us out of a recession?

They don't.

America, next Tuesday, this is your choice: More of this nonsense that you know doesn't work or we lower taxes. We give businesses insensitive to actually reinvest its profits by not doing crazy things in Washington.

We have them reinvest here. We make the -- we make the United States a safe haven for people's ideas and their money. China steals people's ideas. We can protect them here. You unleash the free-market and you put the law-breakers behind bars.

This happened in the early 1920s, when government was reduced, taxes were lowered. We went through the exactly the same thing. Boom! 1940s -- happened again after the war. We had cuts followed by an economic boom.

We can do it.

We can do that or we can have the biggest tax hike in American history. It will -- mark my words -- they won't even vote on it. It will expire in the middle of the night while we are all crowded in Times Square counting down the New Year. It will cripple businesses further.

The choice is clear. Those people who believe this:

(BEGIN VIDEO CLIP)

OBAMA: The federal government is if only entity left with the resources to jolt our economy back into life. It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs.

(END VIDEO CLIP)

BECK: Or -- the choice is yours on Tuesday -- people who believe this:

(BEGIN VIDEO CLIP)

FORMER PRESIDENT RONALD REAGAN: The societies which have achieved the most spectacular broad-based economic progress in the shortest period of time are not the most tightly controlled, not necessarily the biggest in size, or the wealthiest in natural resources. No, what unites them all is their willingness to believe in the magic of the marketplace.

(END VIDEO CLIP)

BECK: You know what the magic of the marketplace is? You! You! A government that believes in you!

We're turning on our values, the ones that got us here. Are we going to allow ourselves to be the ones that let the republic die? Or are we going to sit here and watch a 30 percent voter turnout?

If we do, then we will probably deserve all the government ideas that we'll get.

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