We understand that the deficit is boring and many Americans don't want to hear about it. But tonight I will make it exciting. So please listen up.

President Obama's new budget leaves America with a $2 trillion deficit and will run our debt up to nearly $13 trillion by the end of this fiscal year in September. And we can't ever pay that debt off. The feds simply cannot tax folks enough to raise the money.

That means the country could go bankrupt, just like the state of California is tottering on bankruptcy. If that happens, the U.S. dollar will collapse and we will all be in big, big trouble.

But here's something very important. That scenario may not happen. The American worker is so innovative, so effective that if the economy turns around and the feds cut spending, we might get out of this. It could go either way.

But the truth is we are all at risk, and few media outlets will tell you that. Instead, we have a partisan press which often lies to you hoping to promote their vision of America, whatever it may be.

There are few places you can go to get honest information, and you know it. Here's how I know you know.

The FOX News Channel features a variety of opinions. We parade in scores of guests each week with all kinds of views. Glenn Beck believes the nation is in crisis. Alan Colmes believes Obama could be the next FDR. Sean Hannity believes the Republican Party has the right formula. And I believe both parties need an overhaul. They need to start looking out for the folks. So you get a wide range of views, while our hard news people deliver solid facts.

CNN and MSNBC are openly rooting for President Obama's big government vision. The New York Times and other far-left newspapers want the government to impose quasi-socialism, and their news reporting is geared toward promoting that. The network news presentations in the morning and at night are largely sympathetic to the liberal, big-spending view.

So guess what's happening?

As Americans become more fearful about the economy and the drastic changes at the federal level, they are increasingly watching FOX News. In the February prime-time ratings, FNC was the third highest-rated cable network in the country, beating giants like Disney and ESPN. CNN was 15 and MSNBC 23. In fact, at 8 p.m., MSNBC has collapsed, down almost 50 percent in the key 25 to 54 demo since the October run-up to the election.

Now the liberal press will never tell you that, but it is obvious that Americans are worried and want the truth. That's why "The Factor" is the dominant force in cable news. We will tell you the truth. We have no partisan agenda.

I do hope President Obama succeeds and the economy quickly improves. But I remain deeply skeptical about the emerging nanny state and the enormous cost of it. So we are going to watch the Obama administration to make sure if the USA does face bankruptcy, you will know about it well ahead of time. And we are certainly on that road.

And that's "The Memo."

Pinheads & Patriots

Our pal Clint Eastwood has received a Lifetime Achievement Award from the Cannes Film Festival, only the second person to get that honor. Director Ingmar Bergman is the other.

At age 78, Mr. Eastwood remains a vibrant force on screen. His latest film "Gran Torino" is excellent, and its message of redemption is an important statement.

We don't much care about the Cannes Film Festival. Too many pinheads show up. But Clint Eastwood is a patriot.

On the pinhead front, just days after the woman in Connecticut was brutally injured by a chimpanzee, reality gal Kim Kardashian posted pictures of her pet chimp on the Net.

Apparently she has a chimp named Suzy and wanted the world to know about it. Of course, this was totally inappropriate in light of the attack and suffering of a fellow American.

Ms. Kardashian has apologized, but good grief, was that ever a pinheaded move.

You can catch Bill O'Reilly's "Talking Points Memo" and "Pinheads & Patriots" 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

Bill O'Reilly currently serves as the host of FOX News Channel's (FNC) The O'Reilly Factor (weekdays 8PM/ET), the most watched cable news show for the past 13 years. He joined the network in 1996 and is based in New York. Click here for more information on Bill O'Reilly