A look back at the year 2006. With ten days left in the year, it's a good time to think about what went right and what went wrong in 2006.

The absolute worst was Iraq, very troubling. I believe the USA tried to do a good thing in that country, tried to bring freedom to those people and establish a nation that would be an example to other Middle Eastern countries and fight terrorism at the same time. So far we have not succeeded in doing that, even though we have liberated millions of people. The Kurds are fine in the north. Many people in southern Iraq are prospering, but we have 3,000 dead Americans and 15,000 wounded. We have spend billions and the terrorists are still killing people. It is depressing, to say the least. So that is the big negative.

On the positive front, the economy remains strong. Most of us have comfortable lives and the culture war is turning our way. "The Factor," of course, is right in the middle of this culture war deal, and we've had a good year.

Forty out of 50 states now have Jessica's Law, or a variation of it, and prosecutors tell us that judges now are very reluctant to give soft sentences to child predators. Because of "The Factor's" aggressive coverage of loopy judges in Vermont, Ohio, Missouri and Nebraska, other judges, all over the nation, have gotten the message.

And we also dealt with a number of other bad guys this year as well. O.J. Simpson got what he deserved, scorn. Air America is bankrupt. Christmas has made a big comeback from the secular assault against it. That's all good, and we're happy we can help. So overall 2006 is a mixed bag. The War on Terror has been challenging. The culture war a bit better. 2007, we're ready for the fight. And that's "The Memo."

Most Ridiculous Item of the Day

In May of 2004, actor Sylvester Stallone came on "The Factor" with an interesting story. He was being prevented from making another sequel of his "Rocky" series by a Hollywood big shot.

(BEGIN VIDEO CLIP)

SYLVESTER STALLONE, ACTOR: To the "Rocky" saga, I had a completion to it, and I really had a vision for it. And I thought that it was full of merit.

And I said to MGM, if you don't want to do it, three other studios would put up the money, and they would do it. And I said great, and you guys could share in the profit. And the MGM shareholders could also make a profit.

But they literally had made it so difficult that no one can make any money and basically killed off "Rocky".

(END VIDEO CLIP)

O'REILLY: Well, soon after that interview things turned around. The movie got made, and we were happy if they helped.

Now the "Rocky" movie, the sequel, is out this week, and we wanted to talk to Mr. Stallone about his odyssey, but his people turned us down.

Now we're not mad. He's a busy guy these days. But it is ridiculous. Always remember, you dance with the one who brung you.

—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