Editor's Note: Watch CNN's "John King, USA" on Wednesday night at 7 p.m. ET for John King's full interview with Joe Miller.
(CNN) - A day after his opponent conceded the Republican primary for Senate in Alaska, Joe Miller took on both President Obama and the Republican political establishment Wednesday, warning that the nation is headed towards socialism and facing a dire fiscal crisis.
Incumbent Sen. Lisa Murkowski conceded to the Tea Party-backed candidate late Tuesday in what is considered one of the largest upsets of the 2010 midterm election cycle.
In a wide ranging interview with CNN's Chief National Correspondent John King, Miller criticized the growth of entitlement programs and corporate bailouts under the Obama administration, and described Obama as "bad for America."
"He's one of the major forces moving this country towards socialism. He is expanding the entitlement state. It is the wrong direction for America," Miller said in an interview that will air on CNN's "John King, USA."
Miller has made the threat of socialism a central theme of his campaign. In a new web video on his campaign website he warns that "our nation stands at a crossroads. It's careening toward socialism and insolvency."
However, he told King that he would not seek an immediate end to entitlement programs such as social security and Medicare.
"This is not a Joe Miller comes to D.C. and Social Security is gone, Medicare is gone. But what Joe Miller does do, and what those that I think are joining in this message do is get this government aback from the fiscal brink, back from bankruptcy so that we can ensure that the contracts that we've made with our seniors, that we can honor those," he said.
Yet he conceded that he "absolutely" would like to see an eventual end to a federal Social Security program.
"We're at a deficit. The trust fund is gone. It's full of IOUs. If this were a private pension plan the custodians of that pension plan would be in jail. But our government has raided that fund and it's completely gone," Miller said.
Miller, who has sought to establish himself as a Washington outsider throughout the campaign, called the fiscal crisis a "bipartisan problem," citing a lack of leadership in the Republican establishment.
"The question is whether or not there's the courage and leadership in [the Republican] party to seize the moment, and to recognize that the only way out of this is to get out of the age of the entitlement state, to return power back to the states, and recognize that central government is broken," Miller said. "The Republican Party can do it, but it does require courage because its not the status quo."
But there was one Republican for which Miller expressed strong admiration – former Alaska governor and Tea Party favorite Sarah Palin, who endorsed the previously unknown candidate, and is largely credited with helping him pull off an upset win against the Republican party-backed Murkowski.
"[Palin] was critical to the success of this campaign," Miller said. "She is absolutely a force to be reckoned with nationally. I absolutely will support her in her endeavors."