Updated

This is a rush transcript from "Hannity," January 29, 2013. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: Tonight, it is a "Hannity" exclusive. In just a moment, I'll be joined by an American hero, Air Force fighter pilot Captain Scott O'Grady. He is blasting the Obama administration saying that they are out of their minds to hand over U.S.-made F-16s to the radical regime that is now running Egypt.

Now first, let me explain this story behind this great American. Remember back in 1995, Captain O'Grady's F-16 was shot down over Bosnia by a Soviet anti-aircraft missile. Now O'Grady was ejected from the plane and for six days O'Grady hid from the Bosnia forces. He ate bugs and leaves among other things in order to survive. O'Grady was eventually rescued by brave U.S. Marines.

Now the courage that Captain O'Grady show garners him respect and praise right here at home. And now we need to listen to him more than ever, because as the Obama administration to continuous to gift American-made F-16s and tanks to the Muslim Brotherhood regime in Egypt, Captain Scott O'Grady says we need to be very afraid.

Joining me now to explain more is the man himself.

Captain, good to see you. Welcome back. You are a great American, amazing story. I was just asking you more questions about six days. They were about this close to you when you first got out of your parachute. They were that close to capturing you.

SCOTT O'GRADY, FORMER U.S. AIR FORCE PILOT: Yes. When I was surviving behind enemy lines, I had enemy paramilitary that came within feet of me.

HANNITY: And since then the History Channel interviewed the guys that were searching for you and said they would have killed you?

O'GRADY: Absolutely, for propaganda reasons.

HANNITY: Well, thank God you are here, honestly.

How to do you begin to understand the rationale behind President Obama giving these tanks, our best jets to Morsi, Muslim Brotherhood terrorist group?

O'GRADY: I think that, well, first of all, the deal was made to Mubarak who was an ally of the U.S. and actually was very friendly to the Israelis and the Israelis didn't have to fear an attack from their southern border.

Things have dramatically changed now. We have gone from Mubarak to not a freedom movement, but a tyrannical Islamic theocracy with the Muslim Brotherhood, who is a sworn enemy of Israel and a sworn enemy of the United States. I think we really need to suspend and look at the issue of giving them foreign aid as well as weaponry.

HANNITY: They are claiming that the reason they can is because they've already made that deal. They made the deal back in 2010 and you know, the president didn't have a problem reneging on the Canadian pipeline, the Keystone pipeline so why they couldn't do it here, especially giving weapons to radicals?

O'GRADY: Yes. I have talked to actually some individuals both in the Israeli government and our government. The one respected institution in Egypt is the Egyptian military. The generals that were in charge of the Egyptian military have been replaced to now have generals that are sympathetic to the Muslim Brotherhood. I would say we should suspend all military aid to the Egyptian military unless we see a regime change.

HANNITY: And all financial aid because on top -- remember we're giving these jets free and tanks free and giving them $1.5 billion taxpayer dollars.

O'GRADY: We have to understand that Islam is not just a theology. It is a political ideology and historically from its origin has been militant. Any time you have an Islamic theocracy, it is going to not be tolerant of western secularism and it's going to be oppressive. They are very open about declared aggressiveness of being an enemy to our way of life. So why do we want to actually aid our enemies?

HANNITY: We aided him in coming to power interestingly which was really naive. You think that the Abrams tank portion of this deal is worst of part. I was surprised by that because you flew F-16s, you know how powerful they are.

O'GRADY: Well, the F-16 are formidable weapon, air to air, air to ground fighting, no tactical fighter that has all sorts of weaponry that it can employ, but also I'm very confident in the Israeli air defense systems with their patriot missile batteries as well as their air force too.

HANNITY: They can deal with F-16s?

O'GRADY: -- deal with the Egyptian Air Force. But what really concerns me is delivering more Abrams tanks and there are over 200 Abrams tanks going to the Egyptian that would steam roll through the desert and be a threat to Israel's southern flank. I don't think we should allow that to happen.

HANNITY: You go back to 67-73. Remember Israel was surrounded on all sides. They've got real problems, they are surrounded almost everywhere by enemies, now the instability and the rise of radical Islamists. Morsi referred to the Israelis as descendants of pigs and apes. They are supposed to be our closest ally.

O'GRADY: They are very open about wanting to see Israel wiped off the face of the planet as well as they are enemy to the United States. Here is another thing we have to factor in that is very critical. Short term, we've got to look at Iran. From all accounts from what I'm hearing, they will have enough material to have a bomb this year.

HANNITY: This year?

O'GRADY: Yes, this year. We have to have access to Suez Canal, i.e. we have to go through Egypt. I am not exactly sure what is happening politically for us to be able to have that access. But we have to have that canal open for our carrier groups if in case we have to take military action against Iran in the next five months.

HANNITY: Captain O'Grady, good to see you, my friend. Thank you. I appreciate your outspokenness. Why people in Washington won't deal with this makes no sense.

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