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Barney Frank, President Obama and Your Money

This is a huge week for the president, as he will tell the nation how he's going to deliver health care reform.

The latest Rasmussen Daily Tracking Poll says that after last week's health care summit, the president got a slight bump: 44 percent now want Obamacare, as opposed to 41 percent the week before.

But — and this is a big but — 52 percent of Americans do not want Obamacare for a variety of reasons.

"Talking Points" says no to the multitrillion-dollar entitlement, primarily because of the cost and the chaos factor.

Let me take you back to July of 2008 when Congressman Barney Frank, in charge of the House Finance Committee, said this about the financial positions of Fannie Mae and Freddie Mac, the federal mortgage concerns:

(BEGIN VIDEO CLIP)

BARNEY FRANK: I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They're not the best investment these days from the long-term standpoint going back. I think they would be okay going forward.

(END VIDEO CLIP)

Obviously that was a colossal mistake on the part of Congressman Frank. In the last quarter, Fannie Mae lost $16 billion taxpayer dollars — $16 billion in three months.

Sadly, "Talking Points" believes the same thing would happen with Obamacare. The president says it will cost a trillion dollars. Dick Morris says it will cost as much as six trillion. The truth is nobody knows, but it won't be one trillion.

The enormous cost of Obamacare is something the country simply cannot afford.

Late last Friday afternoon, the Treasury Department issued a very disturbing report. They timed it so you would not see it, but we did and here it is: The USA is now $11.5 trillion in the red. Last year the deficit rose an enormous 12 percent, the highest in history and more than double the previous yearly record.

So there is no question that the United States of America could soon become bankrupt. Obviously that would erode our power and badly damage our economy. That cannot happen. Thus Obamacare in its present form cannot happen. We don't have the money.

Speaker Pelosi says she does have the votes to pass health care reform in the House. It is likely to pass the Senate. But Politico says Mrs. Pelosi does not have the votes, and we should all pray that is true.

America is in grave danger because of financial irresponsibility on the part of our leadership. That is the truth. And while it is very difficult to watch our fellow citizens suffer without health care, the greater good must rule. The feds are spending this country into bankruptcy. It must stop.

And that's "The Memo."

Pinheads & Patriots

You may not know his name, but you know the character Patrick Warburton played on the sitcom "Seinfeld."

(BEGIN VIDEO CLIP)

JULIA LOUIS-DREYFUS, ACTRESS: What is that?

PATRICK WARBURTON, ACTOR: That's the letter "D."

LOUIS-DREYFUS: Why is the letter "D" painted on your chest?

WARBURTON: I'm going to a game tonight, and me and these five other guys are going to take our shirts off and spell out "Doubles."

LOUIS-DREYFUS: But you said no more painting.

WARBURTON: I said no more face painting. As you can see, this is not my face.

(END VIDEO CLIP)

Well now Mr. Warburton has come to the defense of Sarah Palin. The actor does a voice on the "Family Guy" show and said this about the Down syndrome situation: "I know it's satire but, personally, that [joke] bothered me."

It is unusual for any actor to go against the liberal Hollywood orthodoxy, so Mr. Warburton is a patriot.

Click here to watch "Pinheads & Patriots"!

On the pinhead front, Bill Cosby was a little annoyed over the weekend when a publicist interrupted his interview with the Associated Press:

(BEGIN VIDEO CLIP)

BILL COSBY, COMEDIAN: Teenage kids, kids in their early 20s — yes, but I'm trying to answer, and if you had shut up, I would have — I really would have finished it. I swear...

(END VIDEO CLIP)

Is Cosby a pinhead? You make the call.

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