A big thank you to British, U.S. and Pakistani authorities for disrupting a terror plot that could have killed thousands of people.

At least two dozen suspected terrorists have been arrested in England. Allegedly, they were going to use liquid explosives to blow up American jetliners flying from London to the USA. The plot has led to chaos at many American airports as well as some overseas. If liquid is now a deadly weapon, where would this all end?

So once again, we are confronted with evidence that the worldwide War on Terror remains dangerous and fluid, pardon the pun. Islamic fascists want to kill us. And Americans remain divided on how to deal with that reality.

Today, President Bush said this.

(BEGIN VIDEO CLIP)

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: It is a mistake to believe there is no threat to the United States of America. And that is why we have given our officials the tools they need to protect our people.

(END VIDEO CLIP)

But some liberal Americans do not like the president's terror policies. And that disdain continues today.

A statement by Senator Kennedy says: "Five years after 9/11, it is clear that our misguided policies are making America more hated in the world and making the war on terrorism harder to win".

Well, "Talking Points" would very much like to hear exactly what Senator Kennedy's anti-terror strategy is, but it is hard to get specifics out of him.

Now a bit later on, we'll examine the difference between what British authorities can do in terror investigations compared to what American authorities can do. And here's a hint: Senator Kennedy would be appalled at the power the British police have. It's far more than police have here in the USA.

Thus once again, the War on Terror comes into our living rooms, confronting Americans with danger, massive inconvenience at the airports and challenging questions for those who believe President Bush is wrong in his terror war strategy.

During the next 60 minutes, we'll examine all of these things in the usual no-spin fashion. And that's "The Memo."

The Most Ridiculous Item of the Day

Tomorrow, Friday, I will be sitting in this chair broadcasting, hopefully to you.

Now, I'm supposed to be off, but with the new terror front unfolding, I will be here. Ridiculous? Only if you don't show up. Then I give up my day off for nada. Not good. Very ridiculous. We'll see you tomorrow.

—You can catch Bill O'Reilly's "Talking Points Memo" and "Most Ridiculous Item" 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