As everybody knows, NBC News, owned by the General Electric company, has been extremely favorable to Barack Obama ever since he launched his presidential campaign.

Now the president is in trouble. All the polls show Americans turning against his health care vision.

In fact, in Pennsylvania, a new Rasmussen poll says Sen. Arlen Specter, a supporter of ObamaCare, is now losing to his Republican challenger by 12 points. Just a few weeks ago Specter was up by 11 points. That is a stunning turn around.

So there's no question the health care chaos is hurting the Democratic Party and President Obama. To the rescue, NBC News, which is now using its power to attack the health care protestors:

(BEGIN VIDEO CLIP)

CHRIS MATTHEWS, MSNBC: I think some of the people are upset because we have a black president.

ED SCHULTZ, MSNBC: It's an uprising. Angry old white folks are storming into town halls all across America, spewing lies about health care reform. Let me set the record straight early on. These folks, I think, they're dumber than Joe the Plumber.

UNIDENTIFIED MALE: Robert Gibbs may be right. We're all focusing on sort of the craziness that's taking place at these town halls, and some of these politicians that are playing to the bases that are showing up to town halls when you're not getting a representative sample of actual people in the middle who show up.

(END VIDEO CLIP)

Now there is something very disturbing about a major corporation, GE, allowing its news division to brand regular Americans as racist and fascist because they oppose a public policy. In fact, I have never seen this happen before in my 35 years of journalism.

I mean, think about it. Folks are using their Constitutional rights to protest a health care policy they believe will harm them and the country, and a powerful corporation, GE, which just received more than a billion dollars in low-cost government loans — that's taxpayer money — demonizes the very people that provided them the cash. Is that unbelievable?

And the folks are noticing.

So far in August, the MSNBC network, the most radical left arm of NBC News, is down 24 percent in total audience, while FOX News is up 21 percent. At 8 p.m., "The Factor" is up 56 percent in the key 25 to 54 demo; MSNBC down 15 percent.

And it's not just NBC News going after the health care protestors. CBS News reported this last night:

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Those fighting the health care bill contend the outrage is not organized.

MICHAEL PATRICK LEAHY: It's a million or so independent individual voices exercising their right to free speech.

UNIDENTIFIED MALE: Yet Web sites such as Recess Rally, which is planning a nationwide health care bill protest, lists Freedom Works as part of its coalition. That's an organization headed by former Republican Congressman Dick Armey, whose lobbying firm works for the health care industry. Yet the other side is organizing, too. Attendees at this pro-reform event yesterday in Los Angeles were recruited by a local social service agency.

UNIDENTIFIED MALE: It seems like the Republicans have all these talking points that have been delivered through Glenn Beck, Bill O'Reilly and Sean Hannity.

(END VIDEO CLIP)

Totally absurd. I've never received a Republican talking point in my life. CBS should not have used a dishonest soundbite.

So the battle lines have been drawn, as the nation is deeply involved in the most intense political debate in years. President Obama has the power of his office and most of the media squarely behind him. The folks have… the folks. We'll see who prevails.

And that's "The Memo."

Pinheads & Patriots

Actor Brad Pitt and his wife Angelina Jolie have relocated to New Orleans and there is a rumor Mr. Pitt may run for mayor:

(BEGIN VIDEO CLIP)

ANN CURRY, "TODAY" SHOW: If chosen, would you run?

BRAD PITT, ACTOR: Yes.

CURRY: Would you serve?

PITT: Yes. I'm running on the gay marriage, no religion, legalization and taxation of marijuana platform.

CURRY: OK.

PITT: I don't have a chance.

(END VIDEO CLIP)

Generally we think people who run for office are patriots. You can decide on this case.

On the pinhead front, as you may know, we reported that the FBI is investigating an American company, unnamed, that may have sent high tech abroad that was used to kill American military people. We were told General Electric was one of the companies being looked at.

In response, GE denies it and says I smeared them. Their Web site has a big exposition. So if you want a few laughs, go to BillOReilly.com for a link to GE's response, and check it out. There's also a comments blog. If you use it, please be polite, even though we think CEO Jeffrey Immelt is a pinhead.

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