• By Bill O'Reilly

    So, now we have a controversy over Governor Romney telling supporters that a large portion of the American population is dependent on government and most likely will not vote for him. Here is my question; Why is that controversial? That's true.

    Mr. Romney said that back in May at a fundraiser in Florida where he was secretly videotaped.

    (BEGIN VIDEO CLIP)

    ROMNEY: There are 47 percent of the people who will vote for the President no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you name it -- that that's an entitlement. And the government should give it to them.

    So, my job is not to worry about those people. I'll never convince them but they should take personal responsibility and care for their lives.

    (END VIDEO CLIP)

    O'REILLY: Now, I believe the Governor overestimates the number. I put the percentage of Americans who want a nanny state at about 40 percent. My analysis is based on a Gallup poll which asks the question, which comes closer to your own view?

    The government does too much and 54 percent said that. Should do more, 39 percent; depends 4.5 percent. Now if you say the federal government should do more social engineering then the Obama administration is currently doing? Then you want a nanny state. If you want a nanny state, you're not going to vote for Romney who is a big self-reliance guy.

    So again, what on earth is the controversy? If I'm Governor Romney, I run with this all day long. And I have the stats to back my position up. Right now the federal and state governments are spending nearly a trillion dollars a year on means-tested entitlements. Those are payments other than Social Security and Medicare.

    More than 46 million Americans are now receiving food stamps. That's a record. Nearly nine million Americans are now on federal disability, another record. And more than 100 million Americans, 35 percent of the population, are living in a household receiving some kind of welfare.

    Now I'm assuming that Governor Romney wants to stop the madness and get people back to work so they can pay their own bills. I'm assuming that's what he wants to do. So Romney should be pointing a finger, a finger at President Obama saying he wants a welfare state, the President does. And he's well on the way to creating one because that's what the stats show.

    This is so painful... this is so crazy, I should say, it's painful. Did you know... did you know that last week the fed pumped about $23 billion into the banking system? Just threw it out there in the marketplace, flooding the zone with dollars hoping they will be loaned out by American banks.

    That puts us all in danger. The more dollars that are in circulation, the less the currency we have in our wallet and our bank is worth. That's why OPEC jacked up oil prices, to keep their profits steady. So while we have a lemming-like press, braying over Romney being insensitive or something, the man is telling the absolute truth.

    The U.S. government is broke. The feds are borrowing heavily, $3.5 billion every day. And now they're manipulating the dollar in order to pay the bills. That's economically insane. That's Greece.

    All Americans should wise up. If you're on the dole, other people have to pick up your tab. And right now, there aren't enough other people to do that. That's why the country is at $16 trillion debt, it's unbelievable.

    And that's "The Memo."

    - You can catch Bill O'Reilly's "Talking Points Memo" weeknights at 8 and 11 p.m. ET on the Fox News Channel and any time on foxnews.com/oreilly. Send your comments to: oreilly@foxnews.com.