This is a rush transcript from "Hannity," November 26, 2012. This copy may not be in its final form and may be updated.
SEAN HANNITY, HOST: All right. With the so-called 'fiscal cliff.' Now, very much inside, it's clear the Democrats, they smell blood in the water. As you know, if a deal is not reached by January the 1st, a series of defense budget cuts will take hold and massive tax hikes will hit each and every American. But in recent days, rather than work towards reaching a resolution behind closed doors, we've seen democrats from the president on down using the so- called crisis to ram their left-wing agenda down your throat. Now, they want bigger taxes, bigger government. For example, take a look.
(BEGIN VIDEO CLIP)
PRESIDENT BARACK OBAMA: If despite the dangers of going over the 'fiscal cliff' and what that means for our economy, that there's too much stubbornness in Congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. And that's going to be a pretty rude shock for them, and I suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession.
(END VIDEO CLIP)
HANNITY: Republicans hate Big Bird and Santa Claus. Now, don't buy this hype. Now, liberal miss such as letting the Bush cuts expire, are not the answer to tackling this deficit. In fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the Bush tax cuts expire, well that only amounts to around $82 billion a year, that means the government would be funded for a whopping eight-and-a-half days if in fact the President wins this fight.
Now, sadly the real reason we've reached this point is because our elected representatives simply have no idea how to stop spending your money. And as a result, the door has been kicked wide open for Democrats to use this as an opportunity to scare you into thinking more government, well, that's got to be the answer.
Now, we've heard all of this before. Now during both the ObamaCare and the stimulus debates, fear mongering was this president's go-to strategy into getting his way. Now, this is what he predicted would happen unless his so-called recovery plan was passed.
(BEGIN VIDEO CLIP)
OBAMA: The situation we face could not be more serious. I don't have to tell you that, we've inherited an economic crisis as deep and as dire as any since the great depression. And economists across the spectrum have warned if we don't act immediately, then million more jobs will disappear, the national unemployment rates will approach double digits, more people will lose their homes and their health care, and our nation will sink into a crisis that at some point is going to be that much tougher to reverse.
(END VIDEO CLIP)
HANNITY: A lot of good that did.
All right. What's stopping Obama from imposing his will on you yet again? Now, that's where Republicans come in. And unfortunately, over the weekend a handful of GOP lawmakers indicated that they'd be open to putting revenue on the table, but as you know revenue, that happens to be the democratic code word for tax increases. That is simply not an acceptable position for any true conservative. Republicans were not elected to rubber stamp Obama's agenda. They were elected to stand up for specific principles, that being limited government, lower taxes.
These are not catch phrases designed to help phony Republicans win an election. These are core values that voters send politicians to Washington, they want these things protected. No Republican that's walking the halls of the House or Senate was sent there to cave. They were elected to advocate for fiscal austerity, balancing the budget, making the case why our debt and deficit are simply immoral and unsustainable. And that's why we admire, for example, people like our founders and our framers.
That's why we hold them in such high regard.
Now, we conservatives, we love our country with passionate commitment, and like Reagan and Thatcher before us, we love our country too much to allow her to follow the path towards decline, social disintegration, and of course bankruptcy, which would lead to irrelevance. Now, even when the public makes bad choices, as they did, for example, in the 1970s, when they elected Jimmy Carter, or as the British did in the 1930s when Neville Chamberlain served as prime minister.
Now, we're going to continue to make our case with all the strength, all the passion, all the intelligence that we can muster as conservatives. Great leaders, they're always asked to do a difficult job, and they don't compromise, they don't waver from what they believe in, in order to accomplish important goals.
So, it's time for you Republicans, that's right, you Republicans in Congress, it's time for you to do the same. Cut government spending and do that first.
And here with more on all of this, is nationally syndicated radio talk show host, Neal Boortz is back with us. Neal, welcome back to "Hannity."
NEAL BOORTZ, RADIO TALK SHOW HOST: Hey, you. How you doing?
HANNITY: Hey, you. How you doing? How many days until your retirement, Boortz?
BOORTZ: Twenty more shows. Twenty.
HANNITY: All right. You are a libertarian. I'm a registered conservative. I'm watching this debate unfold. I don't hear anybody advocating for limited government. Nobody! Where are those people in Washington?
BOORTZ: I don't know, Sean. Where are they? I wish we could find some. We certainly didn't have that theme during the campaign. I just heard that clip of Obama you played talking about damage to our economy from the so-called 'fiscal cliff.' We really can't hurt the economy any more right now than we did on November the 6th.
Look, this 'fiscal cliff' they're talking about simply isn't high enough for a fatal plunge. When we get to the cliff that we could die on, then they'll start talking about less government and cutting spending.
HANNITY: How much further can you go? I mean $16 trillion, headed to $20 trillion, headed to $25 trillion. Look, Black Friday, this was on Drudge, he just put up late tonight, literally 200 -- however much it is -- per person in this country, $200 and some dollars, they borrowed just on one day. Every child born today, $225,000 in debt. Seems to me that there's a moral case to be made that stealing from your kids and grandkids is one that would resonate. Living within your means is one that would resonate. I don't hear anybody discussing it.
BOORTZ: But Sean --
HANNITY: Republicans talk about caving.
BOORTZ: We live in culture now where there is greedy to want to keep the money you earn but it is not greedy to want to take away the money that somebody else earns. Everything is turned upside down. They're talking about tax increases to save our economy. That's like telling a heart patient to eat more fatty foods. It just doesn't work. Sean, you cited an interesting statistic a while ago about how long we could fund the government with these taxes increases. Do you know if you took the combined wealth of every person making over a million dollars a year, plus the profits from all of the fortune 400 companies, you still couldn't fund our government for one year.
You could get maybe to July or August. The problem is the spending. And spending equals power in Washington, D.C. And these people are not going to give up power until they have to. And the point at which they have to is when our economy completely starts to collapse, when you see the stock market just bail out, when you see investors bail out. We're not there yet. They're not scared yet.
HANNITY: OK. You wrote a book that oddly -- and by your own words, your own admission, because we've been friends a long time -- called "The Fair Tax."
HANNITY: Fair tax goes on to become a huge number one New York Times bestseller.
HANNITY: And then your follow-up book, same thing, big bestseller. Interesting, I support for example the Mac Penny Plan. You cut one cent, one penny, out of every dollar that Washington will spend. You do that every year for six years, keep GDP spending at 18 percent, 19 percent, where historically it is been, and you balance the budget.
HANNITY: That seems like something you could sell to the American people.
BOORTZ: You can sell it --
HANNITY: Go ahead.
BOORTZ: Sean, you can sell it to people who are educated and informed about our economy, but we have a government-educated electorate out there that cannot tell you the difference between a profit and a profit margin, a government-educated electorate that buys this nonsense from Obama that the rich aren't paying their fair share. These people, the voters we have right now in this country, Sean, are exactly the type of voters that the people who created our government education system 100 years ago wanted.
Low information, uninformed, they don't know what's going on, and they simply react to this rhetoric they get from their politicians in Washington, D.C.
HANNITY: Basically you say, we've conditioned the American people to be dependent on government.
HANNITY: And now, what is the end result? As you leave the talk industry in 22 shows, where do you see -- what's the state of the country as you look into the Boortz crystal ball?
BOORTZ: We are in decline. And we are going to continue to decline until we do reach a cliff, that if we went over, it would be a fatal plunge. So I love this country, Sean. I had two parents who served in the military. Now buried in a national cemetery. My brother was in the navy.
This is a wonderful country. But you can't keep whistling past the graveyard. We are in decline. We are in the decline that Barack Obama wanted, because he thinks this country has been an evil colonial power, an oppressor for all these years, and we're just going to have to get much more desperate straits before the people say, wait a minute, maybe I haven't been paying enough attention here.
HANNITY: All right. Neal Boortz, we will be seeing you, you're not retiring fully, because we will call upon you often. Good to see you.
BOORTZ: Absolutely, Sean. Have a great Christmas.
HANNITY: All right. You too, buddy.
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