As the nation watched the president sign health care reform into law Tuesday, a new CNN poll says that the majority of Americans now disapprove of Mr. Obama's job performance: 51 percent say he's not doing a good job.

When you consider that the president's approval rating was 76 percent just 13 months ago, that is a stunning reversal of fortune.

Nevertheless, Democrats celebrated Tuesday, some actually gloating. Vice President Biden was especially effusive:

(BEGIN VIDEO CLIP)

VICE PRESIDENT JOE BIDEN: Everybody knows the story. Starting with Teddy Roosevelt, they tried. They were real bold leaders, but, Mr. President, they fell short. You have turned, Mr. President, the right of every American to have access in the decent health care into reality for the first time in American history.

(END VIDEO CLIP)

And a few moments later, the vice president echoed Dick Cheney, actually saying the F-word.

(BEGIN VIDEO CLIP)

BIDEN: Ladies and gentlemen, the president of the United States of America, Barack Obama. This is a big (EXPLETIVE) deal.

(END VIDEO CLIP)

As for the loyal opposition, well, they're seething. And that's not good.

Charges that some anti-Obamacare people shouted racial insults at Democratic congressman are now being played big by the far left, who want to brand all Americans who oppose Barack Obama's agenda as being racist.

Truth is there are nuts in every crowd, but one loon can do damage. Republicans and Tea Party people would be wise to keep their dissent on the high road.

Right now most Americans aren't happy with the Democrats and the president, but that could change fast if unsavory tactics are used in protesting the Obama administration. If Americans believe there is an irrational hatred in the air, no matter what the issue, they will turn against the haters.

Ironically, that's why the far left can't gain respect in the country, because that movement is dominated by hateful people. Right now Nancy Pelosi's approval rating is just 11 percent and Harry Reid's eight percent, according to a CBS poll. Can you believe these numbers? It's obvious the liberal leadership in America is being rejected.

So there is no need for hysteria on the right. If Republicans want to defeat the Obama administration, their best strategy is to use facts, not provocative rhetoric.

As far as the Democrats are concerned, Ms. Pelosi and Mr. Reid should wise up and understand the country has had quite enough of quasi-socialism. If the far-left element of the Democratic Party continues its agenda, the Democrats might completely collapse.

So in both parties, there is danger in the air.

And that's "The Memo."

Pinheads & Patriots

Our auction to benefit the military charities Operation Shoebox and USA Cares is off to a good start. We are presenting for your bids five autographed covers of my new book "Pinheads and Patriots: Your Place in the Age of Obama," which will be out next September.

Tuesday's winner is Al Klerlein from Chesapeake City, Maryland, who bid $3,500, and I will match that. Mr. Klerlein is a patriot.

On the pinhead front, last Friday in an Atlanta suburb, a 60-year-old woman was crossing the street when a woman driving a black SUV ran her down. The driver took off and is still at large. The victim, Carol Floyd, will recover.

But police need your help to catch the hit-and-run driver. The woman is not only a pinhead, but a criminal.

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